Namaste Direct has issued its latest newsletter, which is excerpted below. To find out more about Namaste, please visit their website. To read the newsletter in its entirety, click here.
It’s been a busy summer for NamasteDirect as we’ve recently launched our new microcredit program. Under our new initiative, Namaste is delivering not only financial literacy training and personal business mentorship, but microcredit loans as well. Prior to this we worked with microfinance institutions to get the loans out to clients. Impact assessments have shown that these client’s (who receive credit from one of our partnering MFIs and support services from Namaste) performance on their loans was 4-6% better than other clients within the same institution that were not supported by Namaste. We have decided to make the loans ourselves so that we may select the clients we are working with to ensure that we are enrolling women interested in improving their businesses. We are excited to test this new model and hope to one day introduce other micro finance institutions to our model of providing credit, financial literacy training and mentorship. Read on to learn more about this exciting endeavor!
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