Agro Micro Finance

The Anti-Poverty Lending Scheme (APLE), one of the earliest schemes sponsored by United States Agency for International Development (USAID) still continues. Under this a first loan of Rs, 15,000/- (about US$ 150) is available to members of Agromart Production Societies to commence a project. Subsequent loans amount to Rs.30, 000/- and Rs.50, 000/- and since 2005 to Rs.150,000/-. This scheme was first introduced and implemented during the year 1994, and is still continued.

Credit facilities are available to over 6000 members of Agromart production Societies, and the maximum amount granted is Rs. 150,000/= per member. Apart from the credit facilities, a package of small enterprise services, up grading of technical skills, and production technology are offered. The loans are granted on the guarantee of two society members.

Primarily, the credit program seeks to achieve sustained increases in the net income by establishing or expanding commercially viable income generating projects among society members. Therefore, the borrowers are trained in entrepreneurship development activities, and are provided with training in economic literacy, business management credit and savings and technical aspects pertaining to their enterprises.

The borrowers, members of Agromart production Societies, and the Field Staff of the Foundation are equally committed to training and individual site follow-up in order to select and implement viable income generating projects. The Field Officers are expected to provide proper guidance and follow-up, and are responsible for credit supervision. Every society has a Loan Committee and since the society member guarantees the loans, they are also required to stay together and be responsible for each other’s financial activities.

A P L E ( Anti Poverty Lending Scheme )