Lend-a-hand-india ( www.lend-a-hand-india.org ) started a bridge loan scheme for Vigyan ashram alumni. Vigyan Ashram is supporting its students by offering guidance in proposal writing, networking with the banks, and mentorship through local entrepreneurs. However, the time lag between the submission of the project proposal to the bank or the credit society and its approval is typically 16 to 20 weeks. Given the family background and the investment that the boy or the girl has made by joining the IBT training, the desire of the student and his family is to start earning a living. They face a dilemma whether to stick around in the village and wait for the bank approval or to step out and search for jobs at urban locations. This is an anxious and unsettling period. It is observed that some youngsters fall through this crack and follow the less risky path of migrating to cities and start searching for a job.

Solution

In this context, with the primary goal of helping the budding entrepreneurs stay course, creating the right environment to start small enterprises, and thereby develop local economies,

Lend-A-Hand India proposes to establish a Bridge Loan Fund. They are making available the seed capital needed by the young entrepreneur to start his/her enterprise. This capital will be available to him/her for a period of one year at an interest rate equivalent to the bank rate.

Contact : Vigyan Ashram ( www.vigyanashram.com , e-mail vapabal@gmail.com ) for further information