Charity Bank for Small Businesses.
The Sewing Machine Project
Project No : 1110
The Charity Bank for Small Business is based on the principle of:
“Instead of giving him a fish every day teach him how to catch fish”
The concept behind the Charity Bank for Small Businesses is to promote and encourage the economic development of citizens through providing access to small loans on an interest free basis. These loans, together with training in a relevant skill, will equip the borrowers with the means to establish their own small businesses, which will provide them with an income to achieve a decent standard of living. This applies in particular to widows, divorcees, single women and other citizens who are breadwinners looking for jobs to support themselves and their families.
Within the framework of the Charity Bank is the project known as The Power of the Sewing Machine Project, whereby:
The bank offers good interest free loans to eligible widows, divorcees and single women to purchase sewing machines, either industrial or domestic, to enable them to design, market and receive an income against the sale of their products.
Potential borrowers are required to complete and submit a formal application for a loan. They are then interviewed and assessed to establish suitability for receiving and repaying the loan.
The women are required to participate in training courses presented by a qualified instructor in order to learn the art and skill of design and sewing.
Further training is provided in marketing and sales in order that participants are equipped to enter the labour market, create and sell their products.
Products are sold under the Iraqi Home Products label in local bazaars.
The Al-Shakiry Charity Shops program (a chain of charity shops in Iraq) will provide further outlets for the sales of Iraqi Home Products which the women who have participated in the sewing machine training course sell to support themselves.
These shops will sell and exhibit both new and second hand clothes. From the proceeds of sales, the women will receive payment for their products, and once running costs have been deducted, a symbolic payment will be made to the Charity Bank for Small Businesses in order that other women may also have an opportunity to apply for loans and to develop their skills, and generate an income to support themselves and their families.
Program achievements to date:
- Training
The program has delivered several training courses to teach sewing and other manual skills to develop confidence, proficiency and encourage the users to become self supportive.
Competent and experienced volunteers have been engaged to supervise the training courses. - Loans
Since 2011 the Charity Bank Project has provided152 small loans against the purchase of sewing machines both industrial and domestic, as well as materials to fashion these items. The value of these loans has reached more than 38,057,080 million Iraqi Dinars.
How can you participate to support the Charity Bank
- Support the Charity Bank by means of a donation to increase the capital of the bank which currently has reached 100 million Iraqi Dinars
- Purchase the clothes and other products from the women who are the beneficiaries of the bank loans, and donate these products to needy families through Al-Shakiry Charity Shops using charity vouchers.
- Volunteer to encourage family and friends to donate as described above.