Community Development Finance (CDF) wishes to announce a new partnership with Our Biswas. This non-profit organization works overseas offering financial support to very low income women. Please visit www.ourbiswasusa.org to learn about the organization.
Our Biswas is working through the innovative concept of Nano Finance to provide emergency and basic needs to thousands of women of Odisha and Chhattisgarh states of India (2007 to current) and of Uganda, Africa (2016 to 2019). Our Biswas works with the most underprivileged women and their families of the society by providing interest free, small loans through the Nano Finance system in mutual trust.
Our Biswas is headquartered in East Lansing, Michigan. Our Biswas has given a grant to CDF to make interest free loans ($500 or less) to their clients and experiment how the Nano Finance concept would work in US. CDF has been making these loans since August 2020. Every loan has been repaid. Also as part of this program, CDF has developed a partnership with the Marin City Community Development Corporation to refer their clients to CDF for zero-interest loans. And now, Our Biswas is planning to develop a program with CDF to implement the Nano Finance system in Michigan.
CDF is very thankful to Our Biswas for this partnership and for wanting to develop this new approach to lending.