|PRODUCT INFORMATION : Entrepreneurship
|Loan Product Name :
|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 :
- 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
- Agriculture – Paddy, Wheat, Jute, Vegetable cultivation
- Agriculture Allied – Dairy, Poultry, Fishery, Duckery, Piggery, goatery etc.
- 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.
|Lending Methodology :
||Individual (through Group)
|Loan Ceiling :
|Subsequent increase amount :
||Maximum ₹10,000 from previous loan amount depends on evaluation marks)
|Interest & Fees :
||Rate of Interest
||26% p.a. on reducing balance
||1% on loan amount
||0.80% on loan amount
|Mode of Repayment :
||Weekly/Fortnightly/monthly as per borrower choice