SHORT TERM LOAN
Often women have urgent needs for support for things, such as their children’s education, health emergencies and immediate business capital. These urgent needs are not accommodated by our Microcredit Program. Therefore, to meet this need, PPMK officially started a Short-Term Loan Project in 2013. Each year, we evaluate and review the program and change the terms and rules as we identify problems that arise during the project period.
The loan amounts and the terms of repayment are according to the of urgency presented by the client and their economic conditions. For example, a poor woman who applies for a $50 loan because she needs medical treatment and no income for a period of time. In this instance, we will give her a lower interest rate or interest free and a longer term of repayment based on her financial capacity. In other cases, a woman who applied for $200 loan for her business because she profits from her business. In this situation we will give normal interest rate and terms. We endeavour to create balance and equal opportunities for all our clients.