Micro-finance Program

BEES believes that provision of savings, favorable access to credit and insurance facilities enable the poor to invest money in productive activities. Thus they can manage their risks better, build their assets gradually, develop their own micro-enterprises, enhance their income earning capacity and ultimately enjoy an improved quality of life. Through this process, the micro-finance program of BEES helps to promote economic growth and development by creating a self-sustaining credit service among the –

· landless poor people with special emphasis on women
· people who own less than half an acre of land
· people who earn their living by selling manual labor, and
· hard core poor, who live below the poverty line.

BEES provides three types of products and services to its group members in the Microfinance Program:
i) Credit
ii) Savings
iii) Credit Plus Services through Seba Package


i. Credit

BEES provides credit to its group members to initiate different income generating activities. Members must have some savings with BEES for being eligible to get loans and loans are given to individuals without any collateral. Credit operations are carried out through a Revolving Loan Fund (RLF) in a systematic process. The RLF consists of donors’ fund, members’ savings and BEES’s own fund. The general loan is disbursed for employment and income-generating activities while sectoral program loan is regulated for micro-enterprise development. At present, BEES provides credit to its beneficiaries through such subprograms under Microfinance Program as Rural Micro Credit (RMC), Microfinance and Technical Support, Ultra Poor, Financial Services for the Poorest (FSP), Microfinance for Marginal and Small Farmer, Urban Micro-Credit (UMC), Micro-Enterprise.

ii. Savings

Savings opportunities with BEES provide members with fund for consumption, children’s education, improved nutritional status and other investment. Income from savings generates greater capacity for self-investment, and enhances the ability to face external shocks by the group members. It also provides security for old age and serves as a contingency fund during natural disasters when income level fluctuates.


iii. Seba Package (Credit Plus Sevices)

BEES provides Credit Plus Services entitled SebaPackage to the target groups so that they can move to a higher degree of self-reliance with a sustainable growth. BEES believes that parallel to financial support, people need to widen their periphery of knowledge, skill and fulfill social requirements in a pragmatic manner. Therefore, BEES provides Seba to link credit facility with different essential services to address these issues. The cornerstones of Seba Package are:
· Insurance
· General and Reproductive Health Services
· Agricultural Support Services
· Funeral Cost
· Pre-School
· Incentive for Pregnant Mothers (having maximum two children)
· Training.

Insurance

BEES maintains insurance policy to ensure safe scheme for the borrowers. The insurance policy covers the risk of the death of any borrower/head of the family-member. The key features of Insurance are:

· All the borrowers of BEES are eligible for BEES’ insurance service.
· The members having loans with BEES are equally eligible for BEES’ insurance service.
· BEES’ insurance policy covers the death risk of all borrowers/ head of the family-member.
· BEES’ insurance service provides a capital some of Tk. 5,000 to 20,000 to the nominee of the deceased.
· The premium would be taken on the basis of disbursed loan in the rate of 1% from the beneficiaries at the time of loan disbursement.

General and Reproductive Health Services
Antenatal care, post-natal care, safe delivery, family planning counseling, referral services for STD/RTI and HIV/AIDS, free diagnosis, prescription, counseling and medicine supply to the poorest and referral services.

Agricultural Support Services
Distribution of seed, seedlings and saplings, fertilizers, fencing, supervision and follow-up, etc. The target beneficiaries receive these and other related services through group meetings by BEES making them “Human Capital” in production.

Funeral Coast
On receiving death information from the loanee, Tk.1000/= is provided (grant) covering the cost of funeral to any member of the family.

Incentive for Pregnant Mothers
This is new program to be launched shortly in order to ensure nutritional status as well as proper antenatal care (ANC) and postnatal care (PNC) of the pregnant mothers having maximum of two children during and after pregnancy period.

Pre-school
Pre-schools established in Microcredit intervention areas for grooming children to make them join primary school. 300 Sisimpur (Sesame Street) style Schools have been already established.

Training
Modern agricultural technology transfer, seed production and storing technology, small poultry firming and cattle rearing & fattening, paddy-fish production technology, agro-forest nursery management, PHC, maternal & child health and family planning, adolescents’ health, food & nutrition, group formation and leadership development, group dynamism and other skill development training and monitoring.