Product By Logiciel Analytics
SMCF is a microfinance that involves an extremely small loan given to an individual to help them become self-employed or grow a business on small scale.
Shatakshi Micro Credit Foundation (SMCF) was registered as a Not for Profit Company (non deposit taking) under section 8 of the Companies Act, 2013 in 2017 and exempt from the provisions of Chapter III B of the RBI Act, 1934. SMCF offers financial services to poor rural/semi urban households in central & eastern Uttar Pradesh/Bihar in India to enable them to invest in income-generating activities. It also provides insurance products by collaborating with Insurance Companies to assist in asset development as well as a complementary loan product for special emergencies.
As an organization dedicated to the socio-economic development of rural/semi urban communities, SMCF is also looking to facilitate additional services to its clients through alliances with other organizations in the area of health, education and vocational training. Major focus of the organization is to enhance the income of households and improve the status of women in the society.
Organization charges 26% declining interest on the loan amount. SMCF has prepared repayment schedule and collection of installment is on weekly basis. Currently SMCF is implementing micro credit programs under financial intermediation. In addition to micro credit SMCF is also involve in Livelihood Program through Financial Inclusion support of financial partner and several NBFC.
Shatakshi Micro Credit Foundation (SMCF) objective is to improve the standard of living of vulnerable families. All women who use our services are called our partners. We provide them with a wide range of services to help them learn and understand how to optimize the use of their loan.
SMCF is fundamentally committed to serving its clients, who are our foundation, by providing the highest standard of individualized service. SMCF recognizes the importance of listening closely to our clients and communities to better understanding their unique requirements, anticipating their needs and providing creative solutions.
At SMCF, we provide our clients and other stakeholders with complete and accurate information about the terms and conditions of our products and services. Information is provided in a user-friendly manner to enable them to easily understand on those terms and conditions.
At SMCF, we ensure that the services we provide to our clients as well as the interactions we have with other stakeholders are not unethical or deceptive. We are committed to building relationships that are based on respect, fair treatments, and courtesy.
SMCF encourages creative thinking and continuous improvement in order to better support and retain our clients and employees.
SMCF provides financial services and socio-economic services to its clients to enhance their well-being. It achieves this ethically and with transparent, fair, and cost effective methods. This manner is also applied to SMCF other stakeholders.
At SMCF, we believe that our clients deserve tailored as well as efficient services. We provide these services in a convenient, proactive, and timely manner.
Privacy of our clients and other stakeholders is strictly safeguarded and stored, and such data is only used upon their consents, and they are well informed on specific purposes of data usage.
SMCF considers its clients and other stakeholders as value assets and takes all of efforts to make sure that the institution treats them in appropriate manner.
Along with the financial services SMCF also offers a wide range of business development services.
SMCF conduct some short time skill training which can be easily learned within 2- 3 hours. In the workshop there is also a scope of discussion directly with the trainer. Many time trainers also support interested participant to link with potential market. If any partners want some additional support to start business they are referred to SMCF business counselling program for regular follow up and guidance.
STEP has developed business counselling program for the people who need regular business guidance for starting new business or diversification of business, increase selling or marketing support etc. This is an individual follow up for partners who need intensive support for their business development. Almost 4-6 weeks of intensive care, we support them to identify Strength, weakness, opportunity and threat and make business plan accordingly.
It is very new initiative and already shown many potential dimension of community development. SMCF helps a group of women to start a business through MBU without which these women were unable to start any business. In regards to MBU , SMCF support people to develop their business plan, identify potential market and negotiation skill and management of MBU.
In order to provide marketing support SMCF try to support their people to link with each other. For example SMCF link a tailor with wholesaler in the same locality. Thanks to the networking system many partners could start their own business. It also helps to reduce the transportation cost, reduce time and energy when the meet their needs in their locality..
SMCF Micro Credit Foundation’s intervention to support sustainable livelihood generation promotes growth and development of all sections of the society. It empowers lives and broadens people’s scope for economic opportunities through community-based approaches.
Its work is driven by the belief that a society made of empowered individuals with a decent standard of living leads to overall prosperity and development of the nation. The SMCF Foundation builds social capital by promoting self-help groups, supporting initiatives towards preservation of traditional art and organizing skill development training. Specific programmes are designed for fishermen communities, farmers and cattle owners, youth and women.
SMCF Micro Credit Foundation’s ( SMCF ) resolve to make quality education available and affordable to as many children as possible has taken the form of several cost-free schools as well as subsidized schools across UP. Many smart learning programs as well as projects to adopt government schools & other are being run in remote areas to ensure the realization of true potential of children.
It also aids by creating a fun-filled environment for the children. The replicability and scalability of these educational models are ensuring that more and more children can become beneficiaries and pave their way towards a bright future,
In order to upgrade the skills of women’s, SMCF Provide low cost skills training by mobilising the community resources. 1. Vocational Coaching: SMCF provide low cost vocational skills on beautician, tailoring, crystal items etc. The training conducted twice per week for the duration of 6 months. Most of the time SMCF identify resource from the same community so that the training can be more adopted in terms of language, place, available days and time with the trainees.
It is an individual follow up program to support the family who are in need of psycho-social support. Some of the common issues that our social worker regularly deals with are as follows,