Parsis offer interest-free loans, flexi pay options to its young entrepreneurs
A year ago, Parsi community came together to encourage young entrepreneurs and new start-ups and founded a programme to help deserving candidates with interest-free loans and a flexible payment schedule.
The India chapter of the World Zarathushti Chamber of Commerce (WZCC) tapped high net-worth individuals from the community and founded the scheme that already has three
They will have the option to repay the interest-free loan within a span of five years depending on their business model.
“The entrepreneurship scheme is a joint attempt of WZCC and World Zoroastrian Organisation (WZO) Trust Fund. As a community, we have never believed in asking for reservations or quota. So, this is our way to encourage youngsters to be enterprising, and contribute meaningfully to the community as well as the country,” WZCC India president Captain Percy Master told Mirror.
Before being selected, the interested entrepreneurs had to go through a rigorous three-stage process spanning five months, which included their businesses being scrutinised minutely and personal interviews with the business advisory committee.
The committee comprised ten industry leaders from the Parsi community in various fields.
“Our emphasis was to select businesses that are most likely to survive among the challenges of the modern world,” said Captain Master.