A few friends and I began with a practical question: how could we mobilise funds to support our small businesses?
Most of us run businesses that meet everyday needs. We were looking for modest amounts of capital that could help us start, sustain or expand our work, so we began exploring possible sources of funding.
Around 2024, we came across information on the National Minorities Development & Finance Corporation (NMDFC) website about loans for members of self-help groups. This led us to explore forming an SHG. We approached the head office of the Tamil Nadu Minorities Economic Development Corporation (TAMCO) to understand how to form a male SHG and what formalities we needed to complete. The officials we spoke with could not give us a clear procedure.
We continued looking for a way forward. In August 2024, our sister Anusuya, who had supported many SHGs in her locality, encouraged us to start a group and work through the next steps as we progressed.
About 20 of us joined hands and began contributing savings. Initially, we collected the money through a personal bank account and lent it to members who needed funds. We named the group Prabuddha Bharat Male Self Help Group. Prabuddha Bharat means “Enlightened India.”
A few months later, we opened a bank account in the group’s name at a nationalised bank and obtained a PAN card. Month by month, our savings grew, allowing us to lend more.
In August 2026, we entered our third year. For the past six months, we have issued at least ₹1,00,000 in new loans each month. Our accumulated savings and interest have crossed ₹6,50,000.
We aim to cross ₹10,00,000 this year. We also want to explore how the group could support people who need capital to start their own business ventures.
We began with a shared need and regular contributions from members. Two years later, the fund we built together is helping us meet that need. Our next task is to grow it responsibly and see how many more people it can support.