The microfinance program of Chanura reached about twenty-six thousand eight hundred in the last fiscal year. As a potent weapon in uprooting poverty, microfinance has been assisting the poor effectively in significantly improving their living status and livelihoods. And its necessity to the poor, as well as the rural livelihoods, remains indisputable. The people living under the poverty line and the poor with lower income are still out of any institutional or formal credit services. Chanura’s microfinance program provides a range of financial services to the poor broadening the scope of financial inclusion of those not served by the conventional banking system. All of Chanura’s clients are women who use this loan to better manage their households, finance, and engage in various income-generating activities. Chanura offers collateral-free credit to the doorstep of the poor, marginal farmers and small entrepreneurs. Chanura relentlessly pursues to make the microfinance program more poor-friendly, efficient, and suitable so that the service recipients can reap the maximum benefit out of the loan. The organization concentrates on improving service quality rather than increasing number of clients in a hurry. It focuses on helping the borrowers utilize the loan properly so that they are able to increase income empowering them to come out of the poverty trap. A flexible and innovative approach to Chanura’s microfinance program has made the service attractive to the poor. The loan aspirants can access this product by complying with the least formalities and without the condition of a tough group guarantee.
