How Microfinance Banks Change Lives and Support Women’s Growth
Microfinance is a financial service where financial institutions provide small amounts of money as credit or loans to low-income households in rural parts of India to help them access formal banking services. As a microfinance bank in Rajasthan, Chaitanya supports women in underdeveloped areas by providing them with group loans and retail loans. This financial aid helps them start their own businesses and earn a stable income, from which they can become financially independent and support their families.
We Offer
Group Lending
Our primary focus at Chaitanya is to help women access financial services. Thus, we provide group lending by forming joint liability groups (JLGs). These groups include women from extremely low-income families and our group lending helps them become financially independent. We offer loans to these women after conducting training and quality checks.
Retail Loans
As a microfinance company in Rajasthan, we offer retail loans to individuals in rural areas. By borrowing retail loans, women can fund their businesses, help their households, or use it for their personal needs. Since the group lending model does not always work, we provide retail loans to women so that they can borrow a higher amount of credit.
How Microfinance Lending Works: An In-Depth Guide
Many rural areas in India do not have proper banking systems from which people can access financial services. Chaitanya’s aim is to provide micro finance lending in Rajasthan to help underprivileged women have a stable income source to support their families. Our various financial products like group lending and retail loans are designed to provide financial assistance to rural communities. We form a JLG (Joint liability group) to train, conduct quality checks, and disburse the loan amount. The repayments are collected either weekly, biweekly, or monthly.