Swedish Microcredit Foundation Charity Profile
The Swedish Microcredit Foundation enhances lives by providing for businesses in need. It financially supports and empowers independent and family businesses, as well as brings opportunity and hope to communities through microcredits.
The Swedish Microcredit Foundation helps people who have suffered from various kinds of disasters such as floodings, earthquakes, hurricanes or in special cases repercussions from draught and war.
To get in touch with the people in need of a microcredit, we work with each community’s local network and co-operate with organisations already familiar with the area. By using already well established and trusted resources we can quickly reach the majority and get the process started in a way that suite each community best. To adjust to each areas local traditions and costumes is crucial in this process, as well as making sure that different local authority figures give their consent.
Interview, Research & Business Analysis
Each applicant is screened through several personal meetings. The experience background and knowledge is carefully evaluated
through open interviews with the applicant, in combination with a general assessment of personality from his/her surrounding community.
A simple business plan is set up during the interview to make sure that the applicant has a clear idea of how much is needed to get the business up and running, and whether the idea is reasonable. The applications are then carefully evaluated in terms of need, realistic goals and credibility.
The accepted applicants receive their microcredit via traceable checks which are signed and recorded on each individual Microcredit contract. The contract also states a simplified part of the business plan in terms of goals and expected repayment rate and dates.
Repayments and Follow up
The idea is to make sure that the applicants can finish their small loan as soon as possible, and become independent self providing families again. Thus repayments are made every month with a personal contact between our trained local staff in combination with a follow up on the progress of the family’s situation and business.
Category: Payday loans