Successful Women Entrepreneurs

A registered urban self-help group, ‘Sri Padmavathi Mahilabhyudaya Sangham’ (SPMS) is the first registered federation in India. Their successful journey passed more than two decades with having a long insight and inspiration for the interested in economically backward regions. This federation contains 529 self-help groups and women members of nearly 6,500. All the members are divided into 20 cluster associations and they saved nearly 13.61 crores over these 25 years of time. They acquired this amount by generating loans of 292 crores on an average of 4.8 lakh per member.

With the timely actions, reliable in their activities and providing the non-collateral sources of credit, they succeeded in this field. Having a positive attitude all the women members have been ready to set up their own enterprises and support their family and take a walk out of poverty. These women entrepreneurs now need support and advice from all financial supporters for their smooth working of their business.

Sri Padmavathi Mahilabhyudaya Sangham (SPMS) supported another link between urban poverty and housing. Their main motto behind sharing this link is to provide a sense of security among their members and also residential stability which is necessary for their livelihood.
All the members of the federation are now accessible to get the finance for their home improvement, new constructions, leverage their membership without providing any collateral security. These women demonstrated themselves as well performed portfolios on housing schemes and by repaying the loans at a rate of 98% which is the highest rate challenging urban context.

As on today, nearly 1,080 houses were upgraded approximately with an amount of 2.70 crores and nearly 650 new houses were constructed with an amount of 4.50 crores and nearly 7 crores were given for housing loans in these 25 years. The linkage has been attached with HUDCO, HDFC, NHB, and NABARD. Currently, they wish to expand their negotiations with vendors.

The life of the people in urban areas is totally vulnerable. They don’t have a proper occupation and their state of their livelihood is also linked with many other social factors like health, caste, age, and gender which ultimately drag them into the poverty line. To overcome this they pioneered a mutual insurance program, ‘Paraspara Sahaya Nidhi’ with this scheme all the needy members receive money in times of emergency. With a small subscription of Rs250, all the members are provided with coverage of 20,000 rupees help. Nearly 10,000 members have been covered in the claim settlement for an amount of 40 - 50 lakh rupees. This is possible with the successful repayment of loans and having a partnership relationship with insurance companies.

A single woman who can provide support and can take a leap out of poverty, she will inspire hundreds of women and can make their home a ‘Happy Home’.

The saying goes- The proper channel to walk out of the poverty is 'Women Empowerment' because a home can be a happy home with the full support of the homemaker.

(Picture Source: Rashtriya Seva Samithi)

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