Each case is evaluated to consider the financial needs of the family, other assistance received from partner organizations/agencies, the family composition and related household expenses, transportation costs, medication budget, among other factors.
Based on the evaluation, MKAC will determine how much financial assistance to provide to the patient, and the time frame the support will be provided. As a stopgap measure, MKAC does not provide financial assistance indefinitely.
MKAC will also assist in the search and identification for alternative solutions to the financial strain borne by the patient. This may include a request for a more affordable dialysis centre, identification of other financial assistance sources that are more permanent, re-evaluation of the household’s budgeted expenses, income-earning opportunity for other family members, etc.
As the financial assistance from this scheme is specifically for dialysis treatment and related medication, MKAC makes all efforts to ensure that the assistance is provided in the form of a subsidy direct to the service or medication provider, and not in the form of a cash hand-out.
In July 2008 MKAC started a Microfinance scheme from a grant of $100,000 from the Chen Su Lan Trust.
A micro business is defined generally as a business owned operated by a single person or a group of not less than 5 persons. Micro-business has become valuable to persons, especially kidney patients, who for many reasons cannot efficiently participate in typically rigid work environments.
MKAC understands that assisting persons to start up and maintain micro and small businesses is not simply a matter of handing them cash. Experience has shown that the persons for whom help is intended often not only lose he funds allocated to them but also lose their own savings when the business fails. Running a business involves skill sets which include good financial managements, marketing strategies, good customer relations, good packaging, conducive business environment, follow-up services to customers, good hygiene practices, amongst other skills. MKAC thus has to satisfy itself that the intended beneficiary is able to, or would eventually be able to sustain the business and run it profitably.
MKAC therefore proposes to form a Governing Committee to administer the Micro and Small Business Fund. The Governing Committee will comprise persons with good business acumen and expertise in the management of micro and small businesses.
The Governing committee responsible for administering the Fund will be responsible for the following:
- Identify those persons with the drive and determination to start up and run micro or small businesses.
- For each person or family or group of persons wishing to start a business, MKAC request a properly thought through business proposal and also guide them in the putting up of the proposal. The Governing Committee members review the proposal and decide whether to reject the proposal or give an in-principle approval to the proposal.
- MKAC will make a recee of the location of the business to ensure that it is a location suitable for operating the proposed business.
- The Governing Committee will then provide counseling and business advise on the start-up and management of the proposed business.
- The Governing Committee will decide on the quantum of loan to be given.
- The monies will be released, not all at once, but in stages according to the urgent needs of the business. In general funds will be released for the following:
- One month rental deposit
- One month advance rental payment
- Business registration costs
- Renovation cost, signboards etc
- Purchase of business related equipment, including office equipment
- Purchase of raw materials
- Marketing initiatives
- The borrower will sign and agreement with MKAC stating the terms and conditions of the repayment of the loan and the interest to be paid on the loan.
- The Governing Committee will monitor the performance of the business and give assistance and guidance whenever necessary.
- Persons who have done well will be given further opportunity to expand their business.