Monday, June 30, 2008

THE 6 GOLDEN RULES OF DHAKA PROJECT MICROFINANCE

1. Lending to individuals via a self-forming group of 6 - not related

2. Preference given to groups with business start-ups

3. 1,000-10,000Tk loans, 12-18 month duration; 12% annual interest

4. Payments are made weekly by each individual

5. 2nd, 3rd, etc... loans given after 1st, 2nd, etc… month’s successful repayment

6. If payment is not received, further payments to the group are suspended

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