Micro Lending Loan

What is Micro Lending Loan?

Micro lending loans support individuals and small businesses lacking access to traditional bank loans. They help entrepreneurs, self-employed individuals, and startups manage expenses and grow.

With minimal documentation, quick approval, and flexible repayment, micro loans provide hassle-free financial assistance for working capital, inventory, or emergencies.

Features and Benefits of a Micro Lending Loan

• Loan up to Rs 1 lakh:

  Member are eligible to get maximum of Rs. 1,00,000/- loan depending upon loan eligibility and cycle. Loans are given only for income generating activities such as poultry, fisheries, animal husbandry, vegetable vendor, papad, small cottage industries etc.

• Flexible repayment tenure:

  Member has the option to pay the EMI on weekly, fortnightly or monthly basis. Although monthly emi is the most acceptable mode of repayment.

• No collateral:

  Member can avail collateral free loan under Micro Lending loan of Autocreds. It is based on JLG model where social collateral is required to avail loan from the organization.

• Doorstep onboarding and collection process:

  All the activities in Autocred Micro Lending product is done at member house of village except disbursement

• Insurance coverage:

  Members and her husband are given insurance coverage till the loan tenure. Sum insured is equal to the loan amount disbursed to the customer.

• Disbursement in saving account in 3 days:

  The whole process of customer onboarding till disbursement in Autocred take 3 days which is among the best in the industry.

Documents Required for Micro Lending Loan