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Microfinance Company is a Financial Services Provider Company that provides Loans, Insurance, Credit, and Savings to small level business owners. Entreprenuers who are working in trade, carpentry, fishing, and transportation from developing countries can apply for micro loan in their country. MicroFinance Companies can give only several hundred dollars loan.
Microfinacial Institutes works at very small level than NBFC as Non-Deposit taking NBFC. Poor and Weak section of the society can get loan of 10,000-20,000 from Micro-Finance Company to Start a Business. MFI works in rural and remote areas to empower small business in villages or to empower farmers.
Any borrower with Rs. 60,000 annual income in rural areas and Rs. 1,20,000 in urban and semi-urban can apply for the loan at Micro-Finance Company. Maximum limit of the loan is restircted to not more than Rs. 50,000/-
Borrower can make Repayment without any penalty in minimum lending period of 24 months if the loan amount more than Rs. 15,000. Repay options are avilable in simple installments at weekly, monthly, and fortnight basis.
Microfinacial Institutes works at very small level than NBFC as Non-Deposit taking NBFC. Poor and Weak section of the society can get loan of 10,000-20,000 from Micro-Finance Company to Start a Business. MFI works in rural and remote areas to empower small business in villages or to empower farmers.
Any borrower with Rs. 60,000 annual income in rural areas and Rs. 1,20,000 in urban and semi-urban can apply for the loan at Micro-Finance Company. Maximum limit of the loan is restircted to not more than Rs. 50,000/-
Borrower can make Repayment without any penalty in minimum lending period of 24 months if the loan amount more than Rs. 15,000. Repay options are avilable in simple installments at weekly, monthly, and fortnight basis.