Swadhaar
Swadhaar's mission is to assist the urban poor, especially women, to enhance their economic capacity by providing financial education and training, and by facilitating access to savings, insurance and loans, which will enable them to cross the poverty line and meet their aspirations for a better future.
Active Borrowers: 92,215
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Average Loan: $208
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Amount Loaned: $19,253,000
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Active Savers: n/a
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Active Portfolio: $19,217,000
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Savings Balance: n/a
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Statistics as of February 2013
Background
Swadhaar FinServe Private Limited (SFPL) is a Non Banking Financial Company (NBFC) that was set up in 2008 with the objective of providing the urban poor increased access to financial services.
Swadhaar’s microcredit activity began with the inception of the non-profit entity, Swadhaar FinAccess (SFA), incorporated in 2005. With the Reserve Bank of India’s approval for SFPL to operate as an NBFC, the company took over all of SFA’s micro-credit activity and its existing micro-credit portfolio.
We provide support and assistance to Swadhaar through the secondment of both the Chief Executive Officer and Chief Financial Officer of the institution. Accion holds a 38% stake in the company and holds two seats on the board.
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