Our Business Model .
We work with women from rural and semi-urban areas. We focus on providing financial support to those poor women who are not able to take benefits of the Banking system. Our financial support is in the form of small loans to these poor women, so that they can start or expand simple business and increase their income.
Process
Purpose of Loan
Income generating, Agriculture allied and non- farm activities
Customer Age
18-58 Years
Credit Bureau
Equifax/Highmark or others
Eligibility Criteria of Credit Bureau
Not more than 1 NBFC-MFI lending Loan outstanding not exceed 1,00,000 No overdue of any NBFC-MFI/Bank
Maximum Household Annual Income
Rural Areas – 1,00,000, Urban & semi urban Areas – 1,60,000
Loan Size
Rs. 20,000/- to Rs. 30,000/- (First Cycle) Up to 50,000/- (Second Cycle)
Interest Rate
As per RBI guideline
Loan Processing fee
1% of the loan amount + GST
Insurance fee
As per policy
Loan tenure
12 Months (Loans up to Rs. 30,000) and for above Rs. 30,000/-24 Months
Instalments Days
28 Days
Insurance coverage
Member and her nominee during loan tenure
JLG formation
5-8 members
Center Meeting Formation
Minimum 10 members
Trainings for group
3 Day CGT and 1 Day GRT, CGT stands for Compulsory Group Training and GRT stands for Group Recognition Test
Field Staff Household Visits for group
100% household verification of members
Pre-Closer
Allowed without any penalty and interest
Delayed Payment
Penality as per RBI Guidelines
Disbursements
Non cash mode and in special cases cash disbursement is allowed after prior approval of MD/CEO/ person nominated by MD
Collection Process
Centre deposit their repayment to field executive
Radius of branch operation
20 KM (for above approval will be taken from COO/MD)