| PRODUCT INFORMATION : Entrepreneurship |
Loan Product Name :
|
Prerona |
Brief Description :
|
This loan product is exclusively designed for the poor women in underserved areas who engaged in self-employment and small income generating activities but do not have enough own capital to run the activities. |
Target Clients :
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- Women who are engaged in income generating activities.
- In rural areas, the women who are engaged as small farmer, allied agriculture activities, food processing, petty trading etc.
- In urban areas, the women who are engaged in more diverse activities like shopkeepers, service providers, street vendors, artisans etc.
|
Criteria of a client :
|
- The above mentioned women who engaged in small income activities.
- Between 18-58 years old
- Should have a income generating activity
- Household income should not be more than ₹1,00,000 & ₹1,60,000 per annum in rural and urban areas respectively.
- Not have outstanding account with more than one MFI.
- Total indebtedness should not exceed ₹1,00,000
|
Purpose :
|
- Farm
- Agriculture – Paddy, Wheat, Jute, Vegetable cultivation
- Agriculture Allied – Dairy, Poultry, Fishery, Duckery, Piggery, goatery etc.
- Non-Farm
- Small business – Grocery, Stationery, Readymade Garments, Tea stall, Food stall, Electronic & Electrical, Mobile shop etc.
- Small Transport – Van, Rickshaw etc.
- Service – Laundry, Saloon, Cobbler, bookbinding repairing shop etc.
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| Lending Methodology : |
Individual (through Group) |
Loan Ceiling :
|
Maximum |
₹30,000 |
| Minimum |
₹10,000 |
Subsequent increase amount :
|
Maximum ₹10,000 from previous loan amount depends on evaluation marks) |
Tenure :
|
Maximum |
One year |
Interest & Fees :
|
Rate of Interest |
26% p.a. on reducing balance |
| Processing Fees |
1% on loan amount |
| Insurance Fees |
0.08% on loan amount |
| GST |
18% on processing fees |
Mode of Repayment :
|
Weekly/Fortnightly/monthly as per borrower choice |
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