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Srinivasa Micro Credit Foundation is a Microfinance Company registered & licensed as Non-Profit Making Company under section 8 of the Companies Act, 2013.
We provide micro loans to poor entrepreneurs and small businesses lacking access to banking and related services. The two main mechanisms for the delivery of financial services to such clients were:
(1) relationship-based banking for individual entrepreneurs and small businesses; and (2) group-based models, where several entrepreneurs come together to apply for loans and other services as a group.
We promote economic development, employment and growth through the support of micro-entrepreneurs and small businesses; also it is a way for poor to manage their finances more effectively and take advantage of economic opportunities while managing the risks.
We empower women and giving parents the ability to save money for their children’s education. We emphasis on female-oriented lending is the subject of controversy, as it is claimed that finance improves the status of women through an alleviation of poverty. It is argued that by providing women with initial capital, they will be able to support themselves independent of men, in a manner which would encourage sustainable growth of enterprise and eventual self-sufficiency.
Moreover, the attraction of women as a potential investment base is precisely because they are constrained by socio-cultural norms regarding such concepts of obedience, familial duty, household maintenance and passivity. The result of these norms is that while micro-lending may enable women to improve their daily subsistence to a more steady pace.
We support and cover several types of needs:
Lifecycle Needs: such as weddings, funerals, childbirth, education, home building, widowhood and old age.
Personal Emergencies: such as sickness, injury, unemployment, theft, harassment or death.
Disasters: such as campfires, floods, cyclones and man-made events like war or bulldozing of dwellings.
Investment Opportunities: expanding a business, buying land or equipment, improving housing, securing a job, etc
Microfinancing produces many benefits for poverty stricken and low-income households. One of the benefits is that it is very accessible. Banks today simply won’t extend loans to those with little to no assets, and generally don’t engage in small size loans typically associated with microfinancing. Through microfinancing small loans are produced and accessible. Microfinancing is based on the philosophy that even small amounts of credit can help end the cycle of poverty. Another benefit produced from the microfinancing initiative is that it presents opportunities, such as extending education and jobs. Families receiving microfinancing are less likely to pull their children out of school for economic reasons. As well, in relation to employment, people are more likely to open small businesses that will aid the creation of new jobs. Overall, the benefits outline that the microfinancing initiative is set out to improve the standard of living amongst impoverished communities