The current project provides financial support for Largo Association to sustain their revolving fund*, which at present has a value of 75 145 BGN and by that continue to provide much needed support to disadvantaged communities in Kyustendil. In order to ensure the achievement of its goals, Largo will be able in the course of the project execution to obtain support on a consultancy basis by the Land-Source of Income Foundation.
The expected results of the project include:
• Sustained revolving fund. This will be accomplished by strengthening Largo’s financial and operation capacity;
• Providing financial support for economic initiatives of 3 new families (2 for the 1st 12 months and 1 for the remaining 6 months of the project).
Providing financial support for economic initiatives of 3 of the families with currently on-going initiatives (2 for the 1st 12 months and 1 for the remaining 6 months of the project).
• Conducting 48 consultations for 16 families (3 consultations per family) who are either beneficiaries of the project or potential beneficiaries, with regard to business options, financing alternatives, assets that can be acquired, company set-up, business plan preparation, business extension (if business already exits). The consultations will be 33 for the first 12 months and 15 for the remaining 6 months of the project.
• 1 training for 15 beneficiaries on the following topics: business planning; possibility to acquire additional funds; registration of a company; how to open a company bank account; insurance; people hiring, etc.
• A 3-year strategy and a detailed action plan for further development of the project and its sustainability.
*for the purpose of the present project TSA will use the following definition of a sustainable revolving fund:
A revolving fund is a self-replenishing tool for encouraging income generation and economic self-sufficiency activities among low-income Roma families. It is established to finance a continuing cycle of operations through amounts received, such as a working capital fund by supporting agricultural and non-agricultural initiatives in a geographic region populated by low-income Roma families, and by maintaining at least 75% return on investment on a yearly basis.