Ranu Mahanti was at Lincoln South Rotary Club to receive the "big check" representing $1,500 that Lincoln South Rotary Club Board granted for nano finance projects in India. Pictured left to right - 2022-23 President Matt Horak, Suchitra Pattnaik, Ranu Mahanti, 2023-24 President Mary Gilbride.
As introduced to the club, Ranu is the founder of the non-profit organization Our Biswas (Our Belief In the Services for Women of All Societies), which is headquartered in Michigan. The mission of the organization is to help marginalized women around the world through a system called Nano Finance. At present Nano finance helps women in India, Uganda, Mexico, Oakland, California and Nigeria. As you recall, Lincoln South gave a grant to this organization earlier this year.
Ranu shares a story on the website (click here) about a young woman who was struggling to pay off a $10 loan for her son's medicines. The loan had the high interest rate of $1 monthly.
She expressed her gratitude for our grant which will support numerous women as they overcome dire financial situations.Through Our Biswas, interest free loans are issued for one year for use on medical expenses, schooling and other essentials. The program is managed by the members - those receiving the loans - by election of community coordinators.
From the August 4, 2023 story "Lincoln South Rotary Club Board Approves Funds for International Project".
Presented by Suchitra Pattnaik, the Lincoln South Rotary Club Board approved $1,500 to support a nano finance project in the state of Odisha in south-eastern India.
Suchitra has been volunteering for this program which is designed to enable marginalized women to tackle the challenges of poverty and boost their confidence. The program also brings awareness to mental health among the women of slum areas.
In this nano finance system, the women receive interest-free loans to support small business. The women choose a coordinator to manage the distribution of funds and collection on the loans.
The women understand that the sustainability of the system is in their hands. The coordinators and the women feel the ownership of the system and they work together with mutual trust and understanding. This is the goal: "Women Helping Women Through Nano Finance."
We will have an opportunity to hear about the results of our investment and Suchitra's on-site work.
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