As of August-2021, 10000 women micro-entrepreneurs funded; 85 crore loan amount disbursed (~11 million USD); <0.5% of NPAs under managed portfolio; exponential MoM growth (~20%); 10+ operating branches in 2 states
We have successfully established an efficient, accessible and corruption free lending process and proven that women are creditworthy entrepreneurs with impeccable credit standing. Alongside, access to credit has created a trickle down effect on employment opportunities at the bottom of the pyramid.
Together, IndusInd Bank and FINSERIN have perfected a workable micro-enterprise financing model that’s being recognized by organizations such as the World Bank and the NRLM. This will facilitate reaching women micro-entrepreneurs across the country.
Kalpa owned a small multi-purpose retail store with bare minimum goods but was very much aware of market demand for such goods. Insufficient funds through SHG financing and lack of family support blocked her from procuring additional goods. FINSERIN evaluated her credit worthiness, unique business model & procurement strategy and connected her with lending partner. This helped Kalpa save a lot of time and she was able to channel her energy on streamlining her operations and expanding her enterprise. She is now a very successful business woman in her area, catering to multitude needs of her customers with unique range of products.
Swati, a 50 year old woman, had a tailor shop in the past and she provided tailoring services to people in her locality. Her business suffered due to lack of product-market fit and she quickly realized the need for home-made atharasam (South Indian sweet delicacy) in her area. She started off as a small scale vendor but as demand picked up, she realized the need to scale her business by optimizing current operations. Nobody was ready to give her credit; FINSERIN at that point recognized her business potential and credit worthiness. With access to credit, Swati was able to procure a mixer come pressing machine, which enabled her to mass produce these sweets in a standardized way and hired 3 more women. Swati is now a successful entrepreneur in her area, with very high regards for FINSERIN . She has plans to further expand her business in this vertical.
With ecommerce penetrating into retail space, kamal's saree shop was in deep trouble. More and more customers were moving towards online purchases. She became aware that customers preferred to try and test products such as bangles, earrings, etc in a brick and mortar setting. With this idea in mind, she reached out to FINSERIN for credit. Post evaluation, she was qualified to borrow Rs 1 lakh to diversify her product base. This was game changer for Kamal, who is now a notable entrepreneur in her area with cent percent loan repayment pattern.
Neelamma is a passionate woman with an aspiration to provide low cost meals to laborers (with no access to kitchen) in her area. Space to scale up operations and access to credit were her primary concerns as her own kitchen space wasn't sufficient to cook for "n" number of people. When a field assistant crossed her way, she was elated to realize that FINSERIN could empower her by giving her credit access, which could aid her enterprise expansion. With new credit in reach, Neelamma rented out a small space, which has now enabled her to feed many more laborers from neighboring areas.