Interest Free Loan for a young Carpenter

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July 15, 2013 - Bangalore, Karnataka (MCID-108-13-14)
Selvam is a young and skilled carpenter. He is working under a contractor who pays him Rs. 200 per day. If he works on his own, he can earn Rs. 600 per day. But for this, he requires his own tools. He needs Rs. 12,000 to buy tools for himself.

MicroCharity came to know about Selvam through his sick parents-in-law. His mother-in-law is being treated after a fire accident. His father-in-law is a psychiatric patient. The family needs support from Selvam to meet the living and medical expenses.

July 18, 2013 - MicroCharity approves the fund request
MicroCharity approved an interest free loan of Rs. 12,000 for purchase of carpentry tools. Selvam will pay back the amount in 24 installments over a period of two years. The amount paid back will be utilized against open fund requests at the time of payback.
Aug 09, 2013 - Fund Raising Completed
Fund raising is completed for this cause. Rs 12,00 is raised from 9 micro donations. We have purchased carpentry machine tools and handed over to Selvam.