MFSPL offers small loans to women in between ₹ 20,000 to ₹ 50,000 to provide support for
income generation activities as per RBI Guidelines. It operates on Joint Liability Group
(JLG) lending model wherein a group of individual women come together to borrow from MFSPL.
They share responsibilities and guarantee each other’s loans. Each group comprises of 8 -10 female members.
Loans are not usually offered for housing or personal consumption.
MFSPL is a member of four credit bureaus Equifax, CIBIL, CRIF Highmark and Experian
Poor downtrodden women with family income of ₹ 1,00,000 p.a. in rural & ₹ 1,60,000 p.a.
in urban areas are the set standards for being eligible for loans.
The typical JLG customers are economically backward unskilled women in the
age group of 18 – 58 years who have no source of regular income/ employment and
are deprived of any kind of financial assistance by the Banks. The target
customers are those who are able and willing to engage themselves in some
income generating activities which would bring in some income to sustain their
family and repay the instalments.
Under its own portfolio, presently MFSPL offers only one loan product of amount
ranging from ₹ 20,000 to ₹ 50,000 with tenure of 12 months to 24 months and with
repayment cycle of 28 days
MFSPL offers loans for various activities like income generation, agriculture allied
and nonfarm activities.
Company has tie up with Pramerica Life Insurance Limited for providing insurance
solutions to the customers