The most well-known model of micro finance is that of the Grameen Bank (GB), operated by Mr Mohammed Yunus, winner of the Nobel Peace Prize in 2006.

GB is a microfinance organization and community development bank started in Bangladesh that makes small loans (known as microcredit) to the impoverished without requiring collateral.

In line with the broad principles of micro financing adopted by the Grameen Bank, HWA-MFAS aims to assist members to start up, operate and manage successful micro businesses.

HWA-MFAS is made possible by the kind donation of Chen Su Lan Trust which has given HWA a sum of money to manage with the aim of assisting HWA members to start up and operate successful micro businesses.

Upon identifying and selecting these potential entrepreneurs, the HWA-MFAS may provide them with small start-up interest-free loans and continue to advise and monitor their ventures till members are fully capable and confident of managing the businesses on their own.

The Governing Committee of HWA-MFAS which comprises President, Hon Treasurer and Executive Director of HWA, as well as two representatives from Chen Su Lan Trust, will approve members’ applications and decide on the quantum of the loan subject to a cap of $15,000 per applicant.

Members may submit their applications anytime, but the Governing Committee will assess the applications on a six-monthly basis.

If you are interested in this scheme, click here to download the application form. If your application is shortlisted, you will be asked to attend an interview.

For more information, you may wish to contact HWA’s Executive Director, Mr Michael Tan, at Tel: 62543006.