When Lincoln South Rotary Club members were introduced to Ranu Mahanti, founder of Our Biswas (Our Belief In the Services for Women of All Societies), they knew they wanted to support the organization’s mission – to help marginalized women around the world through a system called Nano Finance.
Mahanti shared a story about a young woman who struggled to pay off a $10 loan for her son’s medicines. The loan had an interest rate of $1 monthly. The family of five was not able to pay off the loan since their combined monthly income was only $40.
Nano Finance provides interest-free loans to women to use for medical expenses, schooling and other essentials. The program is managed by the members – those receiving the loans – by electing community coordinators.
Encouraged by Matt Horak, Lincoln South Rotary president for 2022-23, the club was initially introduced to the program by member Suchitra Pattnaik, who has been actively volunteering with the program in India. “These loans enable marginalized women to tackle the challenges of poverty and boost their confidence,” Pattnaik said.
