Mision: Saija’s mission is to bring innovative and transparent microfinance to millions in urban and rural India. The institution’s committed and skilled team provides customer-focused and efficient services to help clients improve their quality of life.
Vision: The vision of Saija Finance is to be a value-driven company that creates significant social impact through high-quality microfinance and allied services.
History: Saija Finance Private Limited is a Non Banking Finance Company (NBFC) formed in April 2008 which focuses on providing credit services to microentrepreneurs, petty traders, and low- and middle-income families in the Indian state of Bihar, the country’s poorest and most underserved region. The company started operations in July 2007 with a market research survey interviewing 1500 clients in the Patna slums regarding their socio-economic conditions, prevailing economic activities and current access to financial products. As of November 2009, Saija operates in the state of Bihar through three branches, in the city of Patna and nearby towns.
ACCION's Role: ACCION is providing management services and technical assistance to Saija as a part of its agreement to support the scale up of microfinance operations directed toward the entrepreneurial poor in India. Two of the senior management team of Saija are staff deputed by ACCION. ACCION is assisting in the design, execution and follow-up of a program which uses best-practice microfinance methodologies to deliver credit (group and individual loans) and non-credit financial services. ACCION is also offering assistance in the application of procedures, mechanisms and strategies directed at increasing the efficacy and efficiency of this program.
Borrower Profile: Saija works to promote the socio-economic empowerment of the poor rural and urban Indian population. Saija works in what is arguably the poorest state in India and supports those in Bihar who can use the capital to make significant improvements to their livelihoods. The main recipients of Saija’s loans are: 1) women clients operating primarily home-based businesses and 2) clients from the trading, services and manufacturing sectors with an average of 4-5 years of business experience.
What's New: Saija shows the potential to meet its client outreach target of 500,000 by March 2014, especially since it plans to expand in urban and semi-urban cities in Bihar, Jharkhand and surrounding states that have low microfinance penetration.
Where They Work: Patna, Bihar
Contact Information:
3rd Floor, Uma Complex, Fraser Road
Patna, Bihar, India, 800001
Email: saija.inc@gmail.com
Website:http://www.saija.in/