Financial products (Self Help Group)
General Loan (GL)
General Loan is provided for supporting various income generating activities of KGVMBNL members and their families. The maximum ceiling for these loans is ` Rs.25,000. GL occupies more than 80% of the total loan portfolio of KGVMBNL. KGVMBNL has very stringent monitoring systems to ensure that these loans are utilized only for income generating purposes which can be for initiating new business activities or for investing into the existing ones. Invariably, all the first loans for the members are Generals Loans for supporting income generating activities of the members.
Multipurpose Loan (ML)
GVMFL has established high degree of screening taking into consideration the cash flow of the proposed business activity, previous repayment history of the client etc. prior to disbursement of such loans. All the members who had completed two cycles of GL with proper repayment are entitled for multipurpose loan provided their group shows 100% compliance to the policies and procedures laid down by the organization. The size of the loan ranges between `3 thousand and `5 thousand.
Business Loan (BL)
Business Loans (BL) are being provided only for established clients who have completed three cycles of General Loans during their continuous association with the program. The maximum ceiling for these loans shall not exceed `50,000. GVMFL has established high degree of screening taking into consideration the cash flow of the proposed business activity, previous repayment history of the client etc. prior to disbursement of such loans.
The company is charging annualized interest rate of 26% as per the revised RBI guidelines.
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