MICRO FINANCE

Microfinance is a financial service that provides small loans, savings accounts, and other basic financial services to low-income individuals and underserved communities. It plays a crucial role in poverty alleviation, empowering individuals to start or expand small businesses, improve their livelihoods, and build financial resilience. We have incorporated microfinance as part of their offerings to serve the financial needs of our members and the community. Here's how microfinance can be implemented within The Suvidha Mahila Credit & Supply Co Op Society Ltd.,:

1. Microcredit

Microcredit

Cooperative credit societies can offer microcredit services to members who require small loans to start or expand microenterprises, such as small scale urban terrace farming, handicrafts, vendors or retail businesses. These loans are typically provided without collateral, based on the borrower's character, repayment capacity, and business viability. Microcredit helps individuals access the capital they need to improve their income-generating activities and become self-employed.

2. Savings Accounts

3. Financial Literacy and Capacity Building

4. Group-Based Lending

5. Flexibility in Loan Repayment

6. Non-Financial Services

7. Social Performance Monitoring

8. Collaboration with Stakeholders

By integrating microfinance into the services offered by our cooperative credit society, you can promote financial inclusion, empower individuals with limited access to traditional financial institutions, and contribute to poverty reduction and sustainable development within your community.