New Delhi: Satya MicroCapital Limited, a micro-financing firm, aims to provide socio-economic assistance to five million households by the year 2025.
The company recently achieved a milestone by disbursing Rs. 300 crores in terms of loans to micro enterprises across India, within two years of inception.
“We aim to give a socio-economic boost to 5 million households in both rural and urban markets. Our objective is to become the preferred choice for underserved people looking for funds to create their enterprise and boost their chances of earning a stable livelihood,” said Vivek Tiwari – MD and CEO, Satya MicroCapital Limited.
A non-banking finance company (NBFC), Satya MicroCapital offers collateral-free credit to micro enterprises on the basis of strong credit assessment and centralised approval.
The company has adopted a Limited Liability Group (LLG) Model for extending loan and ensuring repayment, and distributes the liability among each group member which exists only up to 10 instalments in bi-weekly collections.
Through the model, the Delhi-based company aims to add a social touch to lending by integrating modern technology into the Micro Finance industry. (ANI)