ACFL Provides financial assistance to underprivileged self-employed women from down trodden section of population, specially from the rural/semi-urban areas, to help facilitate their upward movement in their economic status and in the process improve the standard of living of their families. This also enables them to gain respect not only within their own families but also in society at large.
|Age group||18-55 years|
|Income group||Household income upto INR 3 lacs|
|Activity||Small business, handicraft, Trade, Agricultural and allied activities.|
|Social background||Belonging to weaker section of society|
ACFL offers its clients income generating loan (IGL) based on their repayment ability. These loans are given under the Joint Liability Group (JLG) lending model of Grameen bank, which has been suitably modified to suit the local conditions. The loans are used for a variety of economic activities and eventually help increase the income generating capacity of our borrowers. Animal husbandry, production, service and trade are major sub-sectors where income generating loans are deployed. Employment, social welfare and healthy working environment are the key by-products of the business of the company.
ACFL not only empower the economically weaker women economically, but also focuses on building social capital base of these community members. Inculcating the virtues of conducting group meetings and empowering the members towards sensitization of social issues and putting community efforts to address those issues.
Besides, ACFL also facilitates social causes like promoting financial literacy among members, cleanliness drive, and sanitation etc.
|Product Name||Aay Vriddhi Rin||Aay Vriddhi Rin||Swachh Ghar Rin|
|Purpose||Income Generation Loan||Income Generation Loan||Water & Sanitation|
|Type of Loan||Group Loan||Group Loan||Individual in Group|
|Nature of Loan||Unsecured||Unsecured||Unsecured|
|Processing Fee||1.5% + GST||1.5% + GST||1.5% + GST|
|Loan Term||12 months||24 months||12 months|
*Annualised Interest Rate on Reducing Balance Basis. Subject to revision as per RBI norms.