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    MPower Microfinance

    Overview about M Power Microfinance Private Limited

    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 Microfinance Private Limited Loans

    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:

    • Money required to pay off bills, etc.
    • Funding investment opportunities
    • Wherewithal for entrepreneurs
    • Agriculture-related activities

    M Power Microfinance has the following loan products

    M Power Microfinance Hariyali Loan

    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.

    1. Hariyali (New Loan) – An agricultural/rural loan that has a ceiling of INR 15000 and can be only considered for first time borrowers. The repayment of the loan is done monthly and the maximum repayment tenure of the loan is 12 months. The rate of interest charged is 27% per annum
    2. Hariyali (New Loan) – An agricultural/rural loan that has a ceiling of INR 20000 and can be only considered for first time borrowers with an added benefit of higher credit rating. The repayment of the loan is done monthly and the maximum repayment tenure of the loan is 24 months. The rate of interest charged is 27% per annum
    3. Hariyali (New Loan or Repeat Loan) – An agricultural/rural loan that has a ceiling of INR 25000 and can be considered for new borrowers (higher credit rating) or returning general category borrowers. The repayment of the loan is done monthly and the maximum repayment tenure of the loan is 24 months. The rate of interest charged is 27% per annum
    4. Hariyali (Repeat Loan) – An agricultural/rural loan that has a ceiling of INR 30000 and can be only considered for returning borrowers. The repayment of the loan is done monthly and the maximum repayment tenure of the loan is 24 months. The rate of interest charged is 27% per annum

    M Power Microfinance Samruddhi Loan

    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.

    1. Samruddhi (New Loan) – A business loan that has a ceiling of INR 15000 and can be only considered for first time borrowers. The repayment of the loan is done monthly and the maximum repayment tenure of the loan is 12 months. The rate of interest charged is 27% per annum
    2. Samruddhi (New Loan) – A business loan that has a ceiling of INR 20000 and can be only considered for first time borrowers with an added benefit of higher credit rating. The repayment of the loan is done monthly and the maximum repayment tenure of the loan is 24 months. The rate of interest charged is 27% per annum
    3. Samruddhi (New Loan or Repeat Loan) – A business loan that has a ceiling of INR 25000 and can be considered for new borrowers (higher credit rating) or returning general category borrowers. The repayment of the loan is done monthly and the maximum repayment tenure of the loan is 24 months. The rate of interest charged is 27% per annum
    4. Hariyali (Repeat Loan) – A business loan that has a ceiling of INR 30000 and can be only considered for returning borrowers. The repayment of the loan is done monthly and the maximum repayment tenure of the loan is 24 months. The rate of interest charged is 27% per annum

    *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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