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  • Category: Finance and Investments

    How to seek urgent financial help from charitable sources

    In financial trouble & need money for the family? Find out from the responses at this page from where you can avail of financial aid for personal reasons.

    I am seeking some urgent financial help. Can anyone please let me know are there any NGOs in my location (Bengaluru, Karnataka) or online charitable organizations which could be willing to provide me with urgent funds? Any inputs will be deeply appreciated.

    Reason for asking is that due to the unfortunate situation of unemployment currently, I am in urgent financial need for about Rs 5 lakhs or so to meet daily family expenses, EMIs etc till the time I get a job. I am in a crisis situation right now. For time being even lesser amount will do. I tried getting help from friends and relatives but not much fruitful. Also, I cannot get any unsecured loan from banks under this situation as I have no source of income to show. I do not want to risk any collateral for getting a loan. I have already availed options like the loan against policies, deposits etc.

    Is there any way to get a loan from somewhere under such situations? Can any NGOs or online Charitable organizations help me in this regard?
  • Answers

    9 Answers found.
  • In a situation in which you are now, the first help can be from close friends and relatives.Such help will be only for a short time . You have to find a regular source of income by taking up some job or employment or small business.
    If those who know you well cannot help you how strangers will help you?

    You can approach your local community organisation(in which you are a member) to give you some help. It may need recommendation and forwarding by some other members in the organisation who can support the genuineness of your urgent need.

    People may come forward to help someone in some sudden emergency financial need like hospitalisation, one time expenses related to marriage, etc and education expenses for a meritorious student.Close people may also give some short term lending.

    Approach your creditor(bank) from where you have taken loan to give you some holiday time or reschedule repayment explaining the temporary situation. Surrendering policies, foreclosing deposits also can be some options.

    Try for a soft loan or minimum maintenance help from your community organisation, your trade union, or some local charity organisation , temple/church committees t which you belong etc. etc.

    Try sincerely and hard for a job immediately. Don't be rigid in your choice.

    If you can think of doing some small business, go for that. That venture may be helped by a bank.

  • I think depending on NGOs for loans for you is not correct. The NGOs objectives and policies will be generally to help the society rather than individuals. There are some NGOs which are helping poor students by providing scholarships. But for individuals for loan repayment and all other house expenses no NGO which gives loans I know.
    There are two options for you. Think of starting some self-employment activity and for that, you can approach banks for loans. Now in our country for startups there are many incentives are being provided by many financial institutions. You can try for such loan start some self-employment business. You will get some money and you can go for some earnings also.
    Another way is to take a loan from known relatives or friends and try for a job at the earliest. It may be difficult to get a job immediately but try hard and you may get it.

    always confident

  • Getting financial help at short notice is extremely difficult without right papers or references. Banks are more rigid now in terms of granting loans. I'm not aware of any NGOs or online help sources. Have another try from friends or relatives even if it means to give a collateral guarantee.

    1.Usually, EMIs are expected to be paid on time. Many banks have a policy of waiting for 3 defaults in payment before they send a notice. After 3-6 defaults, banks often give a grace period of 2 months before they start the process of repossession.
    2.If there is a valid reason for an emergency need, then you can place an advert in the papers for the public to contribute.
    3.You have to try and get the loan by people whom you know by word of mouth within your locality.
    4.You have to think of using a collateral like property or ornaments on which you can get a higher loan.
    5.Some public sectors give a EMI holiday of 3 months if one changes the existing loan account. Please check the terms and conditions before you go take this step.
    6.Try approaching your local corporator/municipal authorities of your municipality/ward who can help you with some ideas whom to approach and even to get you a job.
    7. If no help comes by, then you can enquire for money lenders in the area who will be known by word of mouth, they lend money quickly but for a very high-interest rate, at least you can tide over the crisis.
    8. Please look into any reserve fund or locked in source or assets that may be with in the family, it can be encashed

  • Financial help to you by any NGO or other institution is very remote as NGO's do not give any financial support to individual for meeting his personal expenses and institutions like bank do not give loan without collateral. Even personal loan is provided those who are currently working or have soem regular source of income.

    What you exactly can do is to look for some self help groups who do lend small amount on interest. Also small and micro finance companies lend money on interest but that too small amount.

    What possible auction you have is to look for a job immediately even if it is it high paying but sufficient to cover your basic needs or else if you can sell/mortgage any asset which will get you enough fund for a month's time, then you will have a marginal amount of time to fix the situation you are in.
    It is very unfortunate but this does happen sometimes and we do not get anyone to help, not even relatives or close friends.

    Be brave and try your level best to search for a job on immediate basis as there is nothing impossible for a person who is ready to strive.

  • I have read the question. Under the present circumstances, you will not get any loan from any NGO, NGOs don't give loan under such circumstances. I think you should try to find a job as early as possible. Otherwise you can contact any nearby coaching centre and start giving coaching/private tuition to start earning. If you can prove your ability as a good teacher, you can start earning handsomely within a year. You can also think about giving online coaching. Tutorvista is a very reliable website for this purpose.

    So far as taking loan is concerned, you may approach your relatives who can provide you unsecured loan. Alternatively, you can also approach any bank which can provide you personal loan without any security charging a very high level of interest. But I would not suggest this step. You can also approach the bank from where you have taken your existing loan for EMI holiday for a period of three months to six months.

    Come on, have a fight. Don't shoot and scoot.

  • The circumstances you have described in your query are related to your personal finance conditions and NGOs do not support in such cases. If you have some business plan which can help the community in a larger perspective then only NGOs come in picture.

    Personal loan from the banks is very costly and one should avoid it. It's repayment is a spiral of accumulated interest and will ruin a person.

    The only thing is that individuals and family members should search and look for appropriate jobs as per their capabilities and try to run the household in the simplest possible manner.

    Charitable trusts raise money from the rich people and appropriate it to orphanage and other needy organisations. They generally do not extend it to individuals.

    Knowledge is power.

  • This is a peculiar query in the sense that you are asking financial help from charitable trust or NGOs for personal use.
    In my knowledge there are not such generous entities which extend helping hand to individuals.
    I also suggest to look for some job which can bring some financial stability and slowly you can be out of the debt trap.

    Thoughts exchanged is knowledge gained.

  • As per your present problem, I find it's not suitable to ask financial help from anybody. As you mentioned your staying in Bangalore, you will get N number of jobs which can right now meet your expenses. I am mentioning this because I am also staying in Bangalore and I know the situation. Right now you may not get a job which you may prefer but for time being for your family expenses it will definitely work out. I don't no in which place your staying but there are so many vacancy ads in news paper and net also. Its better you work for any organization and then later on search a job which suits your profession or degree or the line which you want to choose. This is a permanent solution to your problem. Because the amount you take as a loan from your friends or organization will remain only for few days. Later again the same problem comes back and your financial status will not improve in fact it will increase the interest which is a hell of work to wind up. As per your query also no organization will give a loan without any surety. Suppose if your married and if your wife is educated she can also try for jobs which may help you better. Bangalore is a place where nobody can stay without a job because daily N companies come up with N number of vaccancies. So please try to search a job for your right now financial problems.

  • Though you may get financial help from different corners but the best eBay would be to contact small chit - funds where the members are entitled to get a loan by paying regularly certain amount of money by a way of subscription and at the expiry of that very stipulated period, you are entitled to get a loan amount. Supposing that this time it is not your turn, avail loan from the member having been awarded this time. When the oppurtunity comes in your case, you may pay back to the needy member.
    The other way would be to look for the community - fund, where loan are disbursed to needy at a very nominal rate. Such societies believe in the welfare - measures of the community.
    If you have taken any loan from a bank, ask them to to upgrade the loan amount by offering you some additional amount.If your records are clear, you would be sanctioned loan instantenously

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