To provide hassel free credit to SHG's of women for meeating working capital requirements/augment long term margin / financing of fixed assets related to business activity of the individual enterprineurs for expansion of business of the poorest of the poor clients.
NUCC Society (Multistate) has done Microfinance upto November 2015 to 1675 SHG's in Vidarbha Region representing 15040 members who have taken loans to the tune of RS. 32.10 crores from NUCC Society branches under its linkage programme with Hindustan Microfinance Pvt.Ltd.
An economically poor individual gains strength as part of a group.
Besides financing through SHG's reduces transactions costs for both lenders and borrowers.
While lenders have to handle only a single SHG account instead of large numbers of small sized individual borrowers accounts as a part of an SHG which cut down expenses on travel (to and fro from the branch and other places) for completing paper work and also the loss of work days in convarsing for loans.
Where successful SHGs have significantly empowered poor people, especially Women, in rural and urban areas.
Term Loan
Only Women can be a member of the SHG group
Women should be married.
There should be own house and she should stay with her family.
Age limit should be
Minimum – 20 years and Maximum – 54 years
Women members must be staying in her house atleast 2 years.
She should take responsibility for other members in the group.
Maximum Rs.25000 per individual members of the Self Help Group.
Copy of Adhar card
Copy of Electric Bill
Tax Receipt for properly
Agreement form duly sign by co-borrowers
Tie up with Hindustan Microfinance Pvt.Ltd
@ 27 % P.A.
Loan is repayable in 24 monthly equal installments.