October - 2021 issue
SV Creditline Limited
SV Creditline: Creating Enhanced Livelihood for deep Rural Individuals
Partha Sengupta
Microfinance in India is important for the country's development; it acts as financial aid for the rural population. It seeks to assist economically disadvantaged households in achieving higher levels of wealth formation and income protection at the personal and neighborhood levels. The most important aspect of microfinance in India is that it provides small enterprises with access to money.
Established in 2010, SV Creditline Limited (SVCL) is one of India's largest and most reputable non-banking financial firms, with a mission to uplift the entrepreneurial abilities of underserved by providing them with easy credit facilities which are otherwise limited.
Partha Sengupta, CEO, SV Creditline says, "We only provide our services to women who have little or no access to money from banks and other financial institutions. At SV Creditline, we build a livelihood for women from remote areas by building MSME space and financially empowering them.
Our primary responsibility is to generate income for such women by establishing small businesses such as vegetable selling, milk vending, Paper jewelry making, tailoring, and other similar ventures. We plan to train these women and provide them with funds to help them start their small businesses."
Financial Services to Unserved and Underserved People
SV Creditline provides credit for income-generating operations. Individuals who are struggling to receive funds from the traditional banking system due to a shortage of availability of financial protection are the primary customers.
Before providing their services, SV Creditline goes through a rigorous process in which they conduct a session with undeserved and underprivileged people from deep rural areas to help them understand why they should start their own business and how it can improve their livelihood.
Since they do not have access to loans from banks or other financial institutions, SV Creditline initially gains their confidence, by having individuals meet current customers and have them share their success story and how their company has helped them improve in their lives. This procedure would encourage more women to step forward and start their small businesses.
SV Creditline offers credit solutions in multiple ways, by offering loans to the rural women to set up their business, to improve and grow their businesses
SV Creditline offers credit solutions in multiple ways, by offering loans to rural women to set up their business, help them develop and expand their businesses. Elucidating about the USP of SV Creditline, Partha Sengupta adds, "In the short-term plans SV Creditline have planned to conduct business worth 700 – 800 crores, the company have already reached a milestone of reaching three and a half lakh customers and are aiming to penetrate through deep rural areas and reach up to five to six lakhs' customers.
And by looking at the ongoing pandemic conditions we have also offered medical support to these women, and we have a product, Doctor on Call wherein our staff and customers can reach to the doctors on call and consult them through just a call."
In the short term, SV Creditline intends to conduct business worth 700 – 800 crores. The company has already crossed a milestone of three and a half lakh customers and aims to penetrate deep rural areas and reach up to five to six lakh customer.
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