Business Loan (micro banking)
A small unsecured ESAF loan of up to ₹25,000 for members of its micro banking groups, backed by a group guarantee and repaid at group meetings.
Last updated on
Not yet confirmed. The details on this page are based on ESAF Small Finance Bank, Business Loan (micro banking) (external site) (official website) and ESAF Small Finance Bank, Micro-Banking (external site) (official website), and we have not been able to confirm them against a current official page. Check with ESAF Small Finance Bank Limited before you rely on them.
- Status
- Open
- Run by
- ESAF Small Finance Bank Limited
What you get
- Loan of up to ₹25,000 with no collateral
- Tenure of 6 to 24 months
- Repay weekly, fortnightly, monthly or in one payment, at the group meeting, through agent banking or by account debit
- No co-applicant or guarantor needed beyond the group guarantee
- ESAF says it gives women priority in micro banking
Who can apply
- Nano enterprises.
- Age 18 to 70.
- The most on offer is ₹25,000.
- Must be a member of an ESAF group, joining when no older than 65
- Owned or rented home, lived in for at least 1 year
- Group recommendation and group guarantee are needed
- Total borrowing shown on the credit report must stay within RBI limits for group loans
- ESAF microfinance loans go to households earning up to ₹3 lakh a year
How to apply
- Join or form a sub-group of 2 to 10 people within an ESAF Sangam
- The group recommends the loan and the bank checks your credit report, address and business place
In person, through an ESAF group meeting or an ESAF branch
In Kerala, through an ESAF group (Sangam) meeting, agent banking or an ESAF branch
Where we found this
An independent guide by The Company of Four, not a government website. Schemes change often, so check every detail on the official website before you apply. Links marked ↗ open external websites that we do not run, and we are not responsible for their content. Seen something out of date? Tell us and we will look into it.