M Power Microfinance Private Limited is a registered non-banking financial company established in 2009, serving the microfinance needs of self-help groups and entrepreneurs in a few states of India. Loans offered by the company serve to help out the local population in terms of livelihood, healthcare and sundry expenses. The headquarters of the company are in Mumbai, with a regional office set up in Vadodara.
Set up in one of the most happening cities in India, M Power Microfinance Private Limited is spread over 3 states as of November 2015, and conducts its microfinancing activities through its 22 branches over 10 districts. Apart from that, it also has over 5000 centres in India. With nearly 66000 members and helping out close to 19000 groups, the total loan outstanding of the company is at INR 104.09 crore along with a cumulative loan disbursement of INR 220.49 crores. As a company that is yet to reach a decade mark, this start-up has really grown its wings in terms of personal finance.
M Power microloans are lent to the local population of the regions it caters to, so that they can meet recurring, obligatory, and one-time expenses like:
Hariyali Loans from M Power Microfinance are specifically aimed towards providing support for rural businesses, lifestyle or agriculture-oriented business. These loans are further divided into four categories of their own, depending on a few factors, as decided by the institution.
Samruddhi Loans from M Power are basically business loans that can be utilised for aiding business owners or entrepreneurs in the day-to-day activities concerning trading or business. Just like the previous loan category, these are also divided into four different sub-categories.
*All amounts, tenures, repayment requirements, interest rates, charges, ceilings, requirements, criteria, exclusions, terms and conditions are as of December, 2015. M Power Microfinance Private Limited reserves the right to modify, replace, or add to or subtract from any of the above, in any way, at any time, and at its own discretion.
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