MEMAAR-E FARDA (MICRO FINANCE PROGRAM)

The Memaar-e Farda (Architects of Future) Microfinance program is an initiative of Hazara Resource Center (HRC) in collaboration with the established network of trusted non-profit organizations, small business association, and small businesses.

NOTE: Program is currently in its pilot phase and subject to changes.

INSPIRATION

Memaar-e Farda seeks to lift the peaceful, economically-marginalized, Hazara community –survivors of persistent discrimination and terrorism violence– confined to two ethnic enclaves for over a decade in Quetta, Pakistan.

OBJECTIVES

• Extend interest free loan to those most in need
• Encourage entrepreneurship, especially among women
• Provide self-employment opportunities for the unemployed

ELIGIBILITY

The Memaar-e Farda program is open to all current residents of Alamdar and HazaraTown localities in Quetta city regardless of their nationality, religious affiliation, gender, color, or ethnic origin.

PROGRAM DETAILS

The program has three vital components:

1. Micro credit
2. Small Business Micro Loan (category 1 and 2)
3. Business Investment Advice and Assistance

1. Micro Credit
Loan Amount: Rs. 1000 to 10,000

• Provide loan to unskilled individuals to establish new micro businesses.
• Initially the loan will be made available to 100 individuals (program strongly encourages female participation).
• Loan will be interest free.
• Terms of loan repayment established on per case basis, ensuring a flexible approach to allow the business to take root.
• Eligibility for a subsequent loan depends upon repayment of first loan.
• Approved applicants will work closely with Balochistan Tajir Forum (BTF), association of small businesses, providing business guidance throughout the loan period.
• Board of Directors has sole discretion to make an exception and/or defer repayment under certain conditions on a case-by-case basis.

2. Small Business Micro Loan
Loan Amount: Rs 10,000 to 100,000 (category 1)
Loan Amount: Rs 100,000 to 300,000 (category 2)

• Provide loan to skilled individuals to establish new small businesses.
• Initially the loan will be available to 10 individuals (program strongly encourages female participation).
• Loan will be interest free.
• Terms of loan repayment established on per case basis, ensuring a flexible approach to allow the business to take root.
• Eligibility for a subsequent loan depends upon repayment of first loan.
• Approved applicants will work closely with Balochistan Tajir Forum (BTF) providing business guidance throughout the loan period.
• Board of Directors has sole discretion to make an exception and/or defer repayment under certain conditions on a case-by-case basis.

3. Business Investment Advice and Assistance

• The Business Investment Advise and Assistance runs with the help of Balochistan Tajir Forum (BTF).
• BTF will assist individuals with capital to invest in a business but lack business experience, or viable business idea to invest in.
• BTF will assist existing businesses by providing information about new business ideas, and ways to streamline existing businesses.
• BTF will promote small business industry by working with other industry and trade associations locally and nationally to arrange small industry related product exhibitions.

 

MANAGEMENT

The program is managed by the active and voluntary participation of trusted and well established non-profit organizations, small business association, and small businesses. The program is carefully calibrated to provide transparency by ensuring separation of duties.

• Board of Directors
• Board of Advisors
• Steering Committee
• Funds Disbursement
• Internal Audit and Loan-Recollection
• Auditing and Reporting
• Media and Public Relations

FUNDING

Program funding is provided through the charitable contributions of donor organizations and public sources.

PROGRAM INQUIRIES

For applying for interest-free loan:

Wahdat Guardian Organization
Muhalla Abbasia, Alamdar Road, Quetta
Office Phone: 081-2661973
Alternate Phone: 0345-8345005 (only if no response from Office Phone)
Hours: Monday to Friday from 5 – 7 pm (hours subject to Covid-19 SOP. See below)

For Business Investment Advice and Assistance:

Balochistan Tajir Forum
Hussain Center (near Tajai Complex / Sarai Namak), Alamdar Road, Quetta
Ghulam Mehdi: 0321-8131279
Iftikhar Hussain: 0313-3805520
Hours: Friday, Sunday from 11AM – 1PM  (hours subject to Covid-19 SOP. See below)

For philanthropic contributions / partnership:

Hazara Resource Center
Facebook: Inbox message on our Facebook page
Email: HazaraResourceCenter@gmail.com

For more information:

Frequently Asked Questions [in the works…]

** Office Hours during COVID-19:

1. Office hours subject to change for safety of Memaar-e Farda program volunteers, and to comply with Pakistan government’s Covid19 SOPs.
2. Mask and Social distancing are mandatory for office visit.

PARTNERING ORGANIZATIONS

[alphabetical order]

 

 

 

 

• Empowerment