Ours is a social enterprise, which will target the marginalized sections of the society, particularly women micro-entrepreneurs looking forward for expansion. The primary concern here being access to credit, our main goal is to tie up these enterprises, with financial institutions. Besides being an intriguing technical challenge, this venture will be a fulfilling way to give it back to the community, as it will help in resolving major economic issues in the country such as unemployment, poor education standards and inequality.
Identification of SHGs/MFIs:The good quality and matured SHGs will be identified based on their rating and bank borrowings. MFIs will be selected based on their ratings.
Identification of SHG members by Rating:The success of linking “Missing the Middle segment” i.e. “top of the bottom of the pyramid” with mainstream banks, the first and the foremost requirement is identification of qualified members of SHGs/MFI borrowers using a credit rating tool followed by proper assessment of micro livelihood enterprise with regard to its viability, continuous follow up and provision for repayment of loans at a location closer to their residences. To address the critical issue of identification of the qualified members, FINSERIN has developed a rating tool based on credit history of individual SHG member/MFI borrower. This tool also helps in minimizing delinquency at a later stage.
Credit Linkages to identified Individuals: It is either through banks or from the FINSERIN directly. Loan application, appraisal and documentation is through a specified software application.
Repayment at doorsteps through Customer Service Providers drawn from the educated members of SHGs
