Consumer Lending Businesses Seeking Loan in Maharashtra

- Microfinancing company promoted by a group of accomplished individuals with nearly 120 years of cumulative experience in running financial services. - Lends to women entrepreneurs in the low-income category. These women are typically equipped with skills to take up sustainable micro-businesses, and access to timely funds is transforming lives. - Have 80,000+ cumulative loan members (all women) with a 99 % on-time repayment rate. (Due to Covid the current collection rate is around 85% + and is expected to reach 99% by the end of the year. ) - Has distributed INR 2,000 million+ (cumulative loans) and current outstanding portfolio of INR 500 million. - Has a model that enables a group of individuals (usually five) to take loans for income-generating activity by forming a group, wherein group members guarantee each other's loans. - Has own ERP system which gives adequate MIS data for - Capital Adequacy Ratio (CAR), Liquidity Risk Management, Interest Rate Coverage, Debt Equity Ratio and Reports relating to day-to-day activities of branches. - Approach post disbursement: Program monitoring and supervision: If required, providing the additional top-up loans. Women entrepreneurs are covered by microinsurance. - Loans ranging from INR 20,000 (USD 300) to INR 60,000 (USD 900) with up to 24 months repayment duration and monthly EMI and 22% rate of interest. - Have a license from RBI for micro-financing.

- We offer loans and accept deposits from our members. We target small-scale shop owners and the middle class sector of the economy. We desire to inculcate the habit of saving among the commoners of India. - Since inception, we have registered over 1,250 clients. However, we have over 150 - 250 active members that deposit funds into their account on a daily basis. - We have disbursed around INR 15 - 20 lakh in loans till date out of which 60% of the funds have been returned with the remaining 40% outstanding. The company charges an interest of 16% - 19% for the loans depending on the profile in question. - The credit limit available on a loan for a particular member is up to 80% of the deposit amount present in their account. If a member wants a larger loan then the business must obtain a guarantee from two alternate members that the loan amount will be repaid by the specified member on time. As a result, the company has 0 defaulters on loan repayments. - Over 80% of the deposits have been returned to the members. Owing to the cash crunch that was created by the ongoing pandemic, members are withdrawing their money rapidly. The company has around INR 15,00,000 in deposits currently. We provide an annual interest rate of 7% (approx) on the deposits.