OMOZ Wealth Approach

The organization is acting as a Business Correspondent for OMOZ MISSION, playing a pivotal role in facilitating access to financial resources for individuals and small enterprises. Through this partnership, the organization offers microloans that range from a minimum of Rs. 10,000 to a maximum of Rs. 1,00,000 per loan. This initiative is designed to empower borrowers by providing them with the necessary funds to support their business ventures or personal needs, thereby fostering economic growth within the community.

 

Under the Joint Liability Group (JLG) concept, these microloans are structured to promote collective responsibility among borrowers. This approach not only encourages accountability but also enhances the likelihood of loan repayment, as members of the group support one another in meeting their financial obligations. Additionally, the organization offers top-up loans, which are available based on the specific requirements of the borrower and their demonstrated capacity to repay. This flexibility ensures that individuals can access further financial assistance as their needs evolve over time.

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It is important to highlight that the organization is committed to understanding the unique circumstances of each borrower. By assessing their financial situation and repayment capabilities, the organization aims to provide tailored loan solutions that align with the borrowers' goals. This personalized approach not only helps in building trust between the organization and the borrowers but also contributes to the overall success of the microloan program, ultimately leading to sustainable development and improved livelihoods within the community.