Despondency, lack of confidence, having no access to assets, no collateral, and being subjugated by local influential landlords, hardly any member of the community can desire to be an entrepreneur. Such a venture is unthinkable. However, if any member feels differently and assesses himself/herself to start some enterprise, he/she does not have access and reach to the Banks.
Commercial banking in Pakistan has claimed the boom in the sector. These Banks are flourishing with huge profits by only catering to the needs of a top-end influential lot of society who have the capacity to borrow but have never reached out to the poor of this country. They are denied the facility of small loans against social collateral, the one they have. They have no way to establish small and medium enterprises and start income-generation businesses.
There is a strong realization on the part of decision-makers that the prevalence of poverty must be reduced if not eradicated. It is also desired in the Millennium Development Goals which seek to eradicate extreme poverty and hunger. In keeping with this, the Government of Pakistan and the Government of Sindh have taken several initiatives with the help of donors. SRSO feels happy to be a partner in such efforts to address poverty. It is striving to achieve this goal in its target area.
Among other initiatives, the disbursement of microcredit to marginalized people has played an important role in helping them bring about some positive change in their plight. It has also played a key role in helping the poor get out of the clutches of private money lenders and traders.
SRSO’s microfinance sector has functional responsibility for managing the microcredit component of SRSO. The Sector has focused on the identification of potential borrowers through a transparent and rigorous process and aims for the sustainable delivery of financial services to the poor at the household level. SRSO Micro-finance Sector has disbursed a huge amount of credit or financed a number of professions i.e. Livestock, Agriculture, Enterprise Development, etc. It has a transparent system designed for proposals of expected borrowers, scrutiny of cases, and disbursement and tracking of loans. The recovery tenure of the loan is based on the expected cash inflow to the borrower at the end of the economic activity. SRSO -MF’s responsibilities include product development, staff capacity building, and ensuring that credit funds are available to poor households through Community Organizations. SRSO has an online database information system and the successful implementation of this system has resulted in increased efficiency, outreach capability, repayment behaviors, and financial viability of the program.
The rural Credit program is fully dependent on social mobilization and each loan request is signed by at least 75% of the CO members, each member acts as a guarantor for all other members.
SRSO is an active member of the Pakistan Microfinance Network and has certification from the Pakistan Centre for Philanthropy (PCP).
Vision:
To emerge as an innovative and inclusive service provider for marginalized communities, creating economic and social parity through sustainable livelihood improvement.
Mission Statements.
Our Mission is to become a proficient & and innovative financial service provider for alleviating poverty of grassroots low-income women, individuals, and entrepreneurs of under-served rural, peri-urban, and urban communities through a sustainable and diversified loan product portfolio.
Key Services/Interventions
Key Interventions & Achievements as of June 2023
# | Amount Disbursed as of June 2023 | |
---|---|---|
01 | Total Amount of Micro Credit Disbursement (in (Million) | 24,319 |
Men | 2,138 | |
Women | 22,181 | |
02 | No. of Loans | 958,040 |
Male | 86,009 | |
Female | 872,031 | |
03 | Sectoral Disbursement | 24,319 |
Agriculture | 8,120 | |
Livestock | 8,173 | |
Enterprise | 8,026 |