OUR WORK
MICROFINANCE SERVICES
RBI has defined microfinance as provision of financial services and products of very samll amount to the poor in rural, semi urbon and urbon areas enabling
them to raise their income levels and improve living standars.
Microfinance institutions are those which provide these facilities.
Mangalam provides such loans ranging from INR 5000 to 50,000 for loan time of one year to years. The clients are from the poor section of the socity
and undertake these loans to start new business an expand envesting business. These Loan's help the families to earn more surpluses and improve the quality of life of their family.
Area of Work / Operations
At present the area of operation of Mangalam Vinayak Microfinance is Utter Pradesh having two branches.
In the next financial year the area will be expanded to the states of Bihar & Jharkhand apart from opening more branches UP,Bihar & Jharakhand.
CLIENTS
Mangalam Vinayak Microfinance the women make up 100% of clients , Mangalam targets clients are women who are unbanked living are rural & semi Urban areas
balancing making to the marginalized community whose annual household income falls bellow Rs. 100000/- in rural and Rs. 160000/- in urban areas these client as live state
Carpentary, Veggitables selling , small shope transparation and much more .
The financial support are provided to the women either to improve their exsting enterprises are to set up new enterprises.
PRODUCT
Loan product
Loan Amount
Rate of Interest
Processing Fee
Insurance Fee
Insurance
Tenure
J L G
INR. 5000 to 60000
25% P.A. reducing balance method
1.5% of loan amount+GST
1.5% of loan amount
Actual Ride off
1 Year to 2 year opend an the loan amount
Loan Products
Loan Amount
Rate of Interest
Processing Fee
Tenure
Purchase Products
2500 to 8000/-
28% P.A.
1.5% of loan amount + GST
3 months to 6 months depending an the loan amount
