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Microfinance with IDF or, Infrastructure Debt Funds in India
Microfinance with IDF
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IDF Microfinance supports the establishment of small enterprises in underdeveloped regions by recognising that financial inclusion is the only path to development. Even for professionals who are paid or self-employed, obtaining credit can occasionally be challenging. Consider how a poor unemployed person would obtain a loan given the extensive banking requirements. It is challenging for a sizable portion of the population to obtain financing from reputable lending companies. As the country aim for an inclusive growth at all sectors, the provision of micro credit is certainly a powerful tool that will bring financial inclusion. Fishermen, craftspeople, farmers, small business owners, members of underprivileged groups, etc. are among the beneficiaries.
Features and Merits of IDF Microfinance
• Intended to improve the status of and prospects for impoverished women
• To raise the standard of living for those who are marginalised
• To provide funding for small- and microbusiness owners
• Poor people's insurance programme
• Financing for building a cheap house
• Request a credit score
IDF Microfinance Services and Solutions - IDF was founded by experts in the field of microcredit to assist various demographic groups in obtaining credit in modest quantities.
1. Interim Loan Product - Interim loans are given to clients to assist Self Help Groups (SHG) with urgent needs such as paying for urgent medical care or tuition. Loan amounts range from 5000 to 100000 rupees.
2. IDF-Pragathi - Whenever a firm starts to take shape and the entrepreneur needs more money, they can borrow it. The maximum loan amount is Rs. 1,50,000, with a 24- to 36-month repayment period.
3. The IDF-Ashraya Micro Housing Loan - was created specifically to assist the rural population in building their own homes. Members are offered this financing to construct microhomes as a form of housing. The maximum loan amount is Rs. 50,000, with a 48–60 month repayment period.
4. Individual Loan Adbhudaya - This loan is for borrowers who were once associated with IDF Microfinance but are no longer members of the member group. The borrower must have quickly repaid the first and second cycle loans while a member of mSHG in order to qualify for this loan. The highest loan amount available under this programme is Rs. 60000, with a 24- to 36-month repayment period.
In addition to the aforementioned, IDF is able to offer loans for the establishment and growth of microbusinesses and animal husbandry, which are available at various interest rates in states like Maharashtra and Karnataka.