In order to provide the community with financial education and access to funds, Blossom created Poomalai Women’s Collective, an umbrella federation of women’s Self-Help Groups (SHG).
Poomalai’s micro-credit projects help impoverished rural and urban women gain access to small loans to invest in an income generating activity. Weekly meetings are organised and members bring in their savings of, on average, Rs. 25 per week. These savings are deposited into the bank and then divided up as loans to the members.
After operating for six months, and if certain requirements are met, the SHGs become eligible to apply for a loan and then lend the funds to their most needy members. Blossom holds a managerial role in securing bulk loans for Poomalai from banks and corporations
When women accumulate enough capital through the microfinance project, Rural Opportunity for Social Emancipation for Women (ROSE) helps them establish a sustainable business. For more information about ROSE please click here.