Pragati has been incorporated to meet the diverse customers' needs of the rural and semi-urban low-income households and is operating as a BC service provider to Northern Arc Capital
It is a joint liability backed term loan product designed to support the income generation and business support needs of the underserved household. The product is delivered through a women’s solidarity group targeting entire households. The product aims to help customers achieve financial independence and connects them to wider financial opportunities to realize their potential and aspirations. The loan amount under the product ranges from INR 30k to 75k.
It is a term loan product for graduated borrowers of the JLG. The product is delivered individually to the borrowers who already have built good credit history either through group solidarity mechanism or individually servicing the loans. The customers in this category would be financially literate, business savvy and economically intelligent and have an aspiration to further their dream.The product is delivered to entire households by making both spouses as co-borrowers. The loan amount under the product ranges from INR 75 k to 125 k.
ATM is any time loan designed to help borrowers bridge any intermediate need including the personal or business emergency. The product would be available to any of the customers who already have availed of any of the three products described above. The product would be available to borrowers on demand provided they have maintained a clean credit history.