Micro Credit
Micro Enterprise Development Services
In the backdrop of the socio-economic-developmental indicators in most of our operational areas, we started this programme with an objective of enhancing financial literacy, sustainable livelihood and economic empowerment of the poor. We follow the SHG, JLG and the Grameen Model in lending. With a committed, transparent, dedicated work force and a robust system in place, we provide doorstep services like group training, skill building training, business development training, financial literacy training and facilitate loan repayment. Mahashakti came up with some innovative approach in relation to this programme to identify, segregate and systemize the entire process and outcome of the lending model.
Micro Enterprise Loan (MEL)
Keeping in mind the enterprising skills of the rural people, Mahashakti initiated MEL which aims at providing financial support for developing small enterprises in rural area being managed by the clients.
Livelihood Development Loan (LDL)
A ‘Pet’ initiative of our MD, this programme aims at channelizing seasonal businesses of rural folks into a sustainable source of earning livelihood. It matches the need, demand and market dynamics of the locals.
Value Based Credit (VBC)
In order to establish a marked change in the lifestyle of rural people, Mahashakti initiated this effort by identifying areas that require immediate attention and profound support like, sanitation, renewable energy, housing, education, alternate cooking methods and so on. Presently it is providing financial support for building & renovating houses, toilets, safe drinking water devices, solar home lamps, smokeless cook stoves and many other assets to improve the living conditions & fostering better life.
Process Orientation (PO)
We at Mahashakti believe in establishing control systems for achieving our targets and objectives smoothly and fairly. Hence, in the process of implementing Micro Credit programme, we follow many social and financial steps to ensure correctness and transparency. A few of these steps are, field study, village meeting, group and business development training, market linkage, skill development, loan support, social performance management, Bank linkage, linkage with Govt. programmes, impact assessment and so on. All these practices which is backed up by a MIS and a tested organizational system has enabled Mahashakti in eliminating many hurdles and achieve a Cumulative Loan Recovery rate of more than 99% year on year. But the icing on the cake is the outreach that we have achieved, with a total membership of 1, 00,000 and a total disbursement of Rs. 100 Crs.
We take this achievement as a learning and a responsibility, in so much as we constantly endeavour towards imbibing better work culture and initiating new age control tools and practices at the work place. We are grateful to our partners, SIDBI, NABARD, CANARA BANK, KIVA, MIlaap, FWWB, Ananya Finance, Manaveeya Development and Finance Private Limited, YES Bank, IDBI Bank, Reliance, ARC Finance and Swarna Pragati Housing Finance Pvt Ltd., who have lent their hand of support and would like to congratulate them as well on the cumulative success that we
have together achieved.
