Microfinance Company Seeking Loan in Ghatal, India

- Up and coming Nidhi registered micro finance company providing loans to small businesses, group loans to women, personal loans and emergency loans.

- It was a running business which we acquired one year back and are now planning to expand it and make it a franchise model.

- We provide loans to women and small businesses such as shopkeepers, auto drivers, taxi drivers.

- Promoter is from the finance background and has more than 12 years of experience in management, sales and marketing.

- We have distributed 200 micro loans to different business and individuals.

- Our average loan ticket size is between INR 5,000 to 25,000.

- We do KYC and also collect cheque and bank statements as assurance from the business owners wherever possible.

- Our target is to provide 10,000 micro loans per year.

- On an average we are providing INR 10 lakh worth loans every month.

- Interest on the loan is in the range of 15 to 25 percent.

- We have 20 collection executive who also acts as agents. They work on commission basis.

- Repayment duration for the loans is between 3 months to 1 year.

Our products include group loan, personal loan, gold loan. business loan, car and bike loan.

The assets we own include office furniture, computers, and A/C.

We have two office spaces. One in Kharagpur, West Bengal, with a land area of 1,300 square feet and another in Ghatal, West Bengal, with a land area of 1,900 square feet.

We are currently paying a rent of INR 22,000 for the office space in Kharagpur and INR 35,000 for the office space in Ghatal.

The business is funded by family and friends. There are 3 directors, and the proprietor is the majority shareholder. The business has no liabilities.