Products & Services
Microfinance is an effective tool for poverty alleviation and spreading economic opportunity by giving people access to financial services, such as credit and insurance. Annapurna Finance provides financial services to the unserved and underserved people so that they can start or expand their small businesses and increase their incomes.
The company is offering both financial and non-financial services to the resource poor, unbanked and marginalized people in rural and semi-urban areas. The services aim to meet the evolving needs of community and people who are involved in agricultural and small business activities. It has also come up with customized insurance products for its clients. AFPL uses the group lending model (SHG and JLG) where poor women guarantee each other’s loans. Borrowers undergo financial literacy training and must pass a test before they are can avail loans. Monthly meetings with borrowers follow a highly disciplined approach. Re-payment rates on the Company’s collateral-free loans are more than 99% because of its regular monitoring and follow up on loan utilization. The company has also systematically introduced various individual need based products for its clients.
The company has introduced large size individual loans to provide financial assistance to the MSME segment. It has also introduced individual loans for Housing finance, catering to the affordable housing segment.
Group Loans
Income Generation Loans are smaller loans given to our SHG/JLG clients at lower interest rates for shorter duration with the purpose of empowering them by supporting their existing livelihoods & helping them in generating additional income sources.
| Agriculture Crops | Agri Equipment Financing | Agri Allied | Micro Enterprise | Handicraft and Handloom |
|---|---|---|---|---|
| Cultivation of different crops & land development crops like: Paddy, sugarcane, mushroom, Vegetable, groundnut etc | Bullock and Bullock cart, threshers, tractor, Power tiller, Paddy reaper, Water Pump set & lift Irrigation etc | Dairy farming, Poultry, goat rearing, Piggery, Fishery etc | Spice making, dry food processing, Individual business, Beetle shop, Fruit shop, Fast food stalls, paddy processing unit etc | Weaving cotton sarees, Bamboo products, coir production, Brass work etc |
MSME Finance
Annapurna Finance offers business loans to micro, small and medium enterprises to meet their working capital needs. The product is designed with an objective to provide hassle free loans to both registered and unregistered business class segment after a rigorous cash flow analysis. Loans are categorized into two components namely secured and unsecured based on client profile which usually defines the ticket size. Funds are mostly utilized for upgrading or renovating existing business infrastructure, replenishment of stock, expanding the business operations etc.
Housing Finance
Housing regarded as an asset provides a sense of social security and economic well-being to the households. Witnessing tremendous demand for affordable home loans among potential buyers, Annapurna Finance has ventured into secured lending space by offering higher ticket size loans to customers with formal and informal source of income. Loans are usually provided for home construction, flat purchase, home renovation and balance transfer.
Samarth Loan: Loans for Persons with Disability and financially excluded sections of the society
People with disabilities have the talent to pursue meaningful careers and play a role in India’s economic success. Samarth is a loan product for inclusion of those individuals who are excluded even from the general category of financial inclusion such as persons with disability, single mother, unmarried women, widowed, transgender and members of leprosy affected community.
Safe Water and Sanitation to Households (SWASTH)
Addressing the water and sanitation needs of the rural, SWASTH provides financial assistance to individuals to provide them access to safe water and sanitation facilities at household level. Such loan products focus on awareness on safe water and sanitation and training on building resource efficient facilities that lead to convenience, saving of time, increased privacy, heightened safety, reduced expenditure on healthcare and an improvement in overall quality of life.
Dairy Development Loan
Dairy Development loan is a product for Cross Breed Cattle to provide livelihood through dairy farming. The loan is available for purchasing cross breed cow/buffalo, construction of cattle shed and for purchasing dairy related equipment.
Solar Loans
The villages in India face problems of frequent electricity cut. A Solar Light Loan allows the individuals who face this problem on a regular basis to buy lights which are cost effective and eco-friendly.
Consumer Durable Loans
Consumer Durable Loan is
Home Improvement Loan
Housing is one of the necessities of human life that provides a sense of belongingness and economic wellbeing to the households. Home Improvement Loan is a short- term loan advanced for improvements in residential property, such as additions and alterations, maintenance and repair, or replacement of structural parts.
PMSVANidhi Loan
Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi is a special micro-credit facility scheme for providing affordable loans to street vendors. The scheme enabled the street vendors to resume their livelihoods that have been adversely affected due to COVID-19 lockdown.
In line with Government mission & broader Objective of financial Inclusion, Annapurna Finance is launching this product to enable street vendors to resume their livelihoods, which have been hit hard due to the nationwide lockdown.
