Sub Sewa FInhelp Foundation
To support large number of poor men and women directly or indirectly, either through Self-Help Group (SHG)/ Joint Liability Groups (JLG Groups) or individually and thus to help them and their families out of the poverty. To support the promotion of employable skills of underprivileged for the economic perspective by providing skills training, organizing workshops in promoting and supporting in the marketing commerce, protection of the environment with the object of removing backwardness, malnutrition, making people self-confident, help in generating employment and create altogether empowerment among the people of the country on non-commercial basis training, organizing workshops in promoting and supporting in the object of removing backwardness, malnutrition, making people self-confident.
Micro finance, also called microcredit, is a type of banking service provided to unemployed or low-income individuals or groups who otherwise would have no other access to financial services.
The idea is simple – provide small and microloans to marginalised groups and help them become self-sufficient through entrepreneurial activities.
Microfinance has been recognised as one of the most effective tools for poverty alleviation and for women empowerment. Multiple studies show that rather than one-time access to capital, multiple access to microcredit can help people earn a steady and sustainable income.
Microfinance Loan Eligibility Criteria
Microfinance is an agent of economic change and we make it available to rural and semi-urban people aiming to become business owners. The eligibility criteria to get the loan are minimal, encouraging more women, Farmers, msme to take credit to become entrepreneurs
Key benefits of microfinance in India include:
- Access to credit for the marginalised sections of the society
- Enables access to education and healthcare for people who do not have access and/or affordability
- Improves income and nutrition for families, especially women
- Smaller loans do not burden the individual and family and repayment is in easy installments
- An entrepreneur once successful will hire others, and it will lead to job and wealth creation
- Significant economic gains for the nation as a whole.
Documents Required For MicroFinance Loan
- Application form.
- Passport copy / PAN Card / Ration card.
- Office address proof.
- Passport sized photographs of all applicants / co-applicants.
- Certified copies of MOA / AOA /Partnership deed.
- Repayment track record.
- 2 years audited financials.
- 2 yrs ITR of directors/partners.
- 6 months bank statement of main operating account.
- Proforma invoice to the equipment to be financed.
- Professional qualification certificate in case of Doctors/CA/Lawyers/Architects.
Our sister concern Sub Nidhi Limited. is a successful Nidhi Company of India, and through it we have helped empower hundreds of people, to generate regular incomes for their families.