Fincare group has two NBFC-MFIs , viz. Future Financial Servicess Pvt Ltd (FFSPL) and Disha Microfin Ltd (Disha) as its portfolio companies, offering affordable financial services to rural and semi-urban base of pyramid households in India. The business portfolio of FFSPL moved to the balance sheet of group company Disha Microfin limited on 1st October 2016, a step taken as part of the transformation of the group to proposed Fincare Small Finance bank, basis an in-principle approval from RBI.
Traditionally into unsecured joint liability based group (JLG) loans for income generation, the group, in recent past, has ventured into multiple product lines catering to the larger life cycle needs of its customers with a clear objective of partnering in their journey of progress. Secured Loan product, Microenterprise Loans (MEL) exclusively offers business capital loans to borrowers who have graduated from being a micro borrower to a business borrower, with a stable credit history and proven repayment capabilities. The group offers two versions of this secured loan product, viz. rural micro enterprise loans(R-MEL), a small ticket product for its established micro borrowers and an urban and semi urban product (U-MEL) for MSME segment. The group has recently started offering Loan against Gold (GL) to address instant liquidity needs of clients with spot valuations and quick disbursals.
Fincare also offer loans for value added products, energy-efficient solar lamps and affordable mobile phones, as an enabler of the social progress of Fincare customer community.
Thriving in a highly regulated industry, the NBFC-MFI portfolio companies of Fincare, have leveraged its high caliber management capital and focused business acumen to build a highly efficient, transparent and sustainable business at the base of pyramid, that is maximizing value and facilitating progress for all its key internal and external stakeholders.