SSPN Finance Ltd (SSPNFIN) Microfinance Loans are given to groups of women between the ages of 18 and 55, who live within a kilometer of each other, know each other well, and will stand guarantee for each other. Three such women can get together and apply for a Microfinance Loan, for productive purposes, like starting a small business, expanding an existing business, or any other small-business related reasons. They must own a house or have lived in the area for at least 2 years. All they need to provide as documentation, is identity and address proof, as per the KYC norms of Reserve Bank of India and the Microfinance Institutions Network (MFIN). The Loan Origination Process.
The loan-approval process for Microfinance Loans from SSPNFIN is simple, transparent, and requires minimum documentation. It is communicated on the spot using smart technology.
The documentation for Microfinance loan from SSPN Finance Minimal Documentation. Applicants who fulfill KYC requirements and have a group guarantee, get an on-the-spot indication of their loan approval status.
The Loan Disbursement & Repayment between SSPN Finance and customer takes place at the residence or workplace of the customers.