Microfinance Plus

JCF always tries to provide some necessary services to the beneficiaries even though that is not the part of original design. In microfinance the tendency of all staff is to focus on recovery and disbursement but JCF thinks differently. JCF has taken numerous humanitarian interventions in its microfinance program. In 2001 JCF introduced Dead Members’ Loan Exemption facilities under which a member or co-applicant of the loan when died the remaining loan is excused. The same is applicable for the loss of income asset or inability to do any income generating activities of member after facing any disaster or accident. JCF also thinks about the burden of loanee in terms of repayment and fixed the grace period and ceiling as per their need. The women members and other women family members of the loanee are getting free operation and treatment facilities specially for gynecological problems. The intervention was started in January 2016 and at the end of FY 2016/17 a total of 1460 women received the facilities worth of BDT 15,398,613. Moreover, JCF also provides Education Support Services to the children of its group members of Microfinance Program to pay SSC examination board fees. This service was initiated in 2003 only for the SSC examinee but from FY 2015-2016 HSC examinees are also getting the support and up to FY 2016-2017 63,215 students received support of BDT. 82,295,930. In addition, every successful student who passed SSC examination is also awarded BDT.5000 as stipend for their higher education which was initiated in 2006 but from FY 2014-2015 HSC passed students are also getting the support and up to FY 2016-2017 a total of BDT. 38,195,000 have been distributed among 7,639 students. Another service of Microfinance is to make its members skilled so that they can optimize the use of loan and provide IGA training as per the demand of the borrowers. JCF also provides remittance service to make life easier for the expatriate workers and promote SMEs by giving loan with fewer formalities. In the south-west part of Bangladesh JCF provided huge loan in beef fattening and at present agriculture covers the most loan disbursed in every year (almost 50%). JCF also encourages agriculture loan through seasonal loan under which any member can take an additional loan in seasonal agricultural activities along with his/her regular work. JCF recently has introduced loan for the migrant workers as per their need when their visa is finalised to cover up the travel costs. Another new service for the loanees is the Start Up Business Loan for the new businessmen who has some skill or training to operate the business for 2 to 3 years.

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