Micro Enterprise Program

VERC observed that there are many small entrepreneurs, small and medium scale market based businessmen and skilled workers in the rural and semi urban areas in Bangladesh who are struggling to expand their business but due to lack of capital they are unable to do so. Based on the realization, VERC has initiated Micro Enterprise lending products in addition to its Mainstream Micro Finance to meet the demand of the large number of clients. VERC runs Micro Enterprise lending products also to previous borrowers of the Mainstream Micro Finance program who have been successful in generating income by establishing different profitable schemes and made their production/scheme responsive to the market who have proven track of successfully passing several loan cycles. The status of members till June 2010 is 2,860; No. of Borrowers- 2,500; Loan Outstanding (portfolio)-is Tk.10,83,73,215; Savings Outstanding amounts to Tk.3,41,17,793; Member Welfare Fund Outstanding is Tk. 9,07,461 and recovery rate is 99.73%.