Types of Funds and Approval Process.
Types of Funds
One Time Fund
This fund is for immediate need for orphans, destitute women seeking shelters, someone who needs immediate medical help or families under distress due to unforeseen circumstances. Those who are suffering from extreme poverty where they have no source of income or lost home due to natural disaster.
Reusable Fund
This fund is for those orphans and underserved students to help with their education and microloans to enterprising rural or destitute women who need help to start a business. These funds are returned interest free within a certain time frame. The recipient of the fund signs off at the time of fund distribution to pay back the amount after a certain time period per contract agreement. These funds are then distributed to another set of deserving students and to enterprising women.
This type of fund approval require majority votes of the Board. Since this is a long term commitment, compete investigation is required prior to approving the funds to specific individual. Yearly satisfactory audit is required for continuation and renewal of the fund. SAS must receive the renewal application for funds 3 months prior to term expiry.
Fund Approval Process
Submit the online application form based on your category of needs
Application is reviewed by the committee for approval
Local field service personnel will verify application information
Recipient will be notified to revise application for any incorrect information
False information on the application will be disqualified
Recipient will be notified upon successful verification and funds approval
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