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Established in 2007, Margdarshak’s microfinance services are targeted at rural and urban poor in Uttar Pradesh. Working towards creating a holistic model of microfinance, Margdarshak is involved in supporting financial access with enterprise development and market access services. The provision of financial services is supported by a host of initiative ranging from financial literacy of the clients, enabling them in accessing new markets and developing their enterprise management & technical abilities.
Margdarshak’s clients use the loans provided in variety of traditional businesses like handicrafts (chikan, zari work), vegetable vending, garbage re-cycling, livestock rearing etc. Margdarshak also supports new age business by providing enterprise loans and business development services to micro enterprises.
Focusing upon working with women, Margdarshak forms groups of women and provides loans ranging from Rs. 5000 to 15,000 to individual clients. Prospective members are provided orientation on company policies, loan products, interest charges, credit discipline and group responsibilities by the field officer. Once trained the group is assessed by the branch in-charge and subsequent to approval the disbursements are made to the group. Following the ‘staffs do not touch the cash’ mechanism disbursements are made at the branch by Margdarshak and groups deposit their repayments at the branch. Margdarshak is one of the few new generations MFI’s providing loans to youth for self-employment and enterprise growth ranging from Rs. 30,000 to 50,000. Groups of 5 youth are trained in the same pattern as the women groups and provided with enterprise loan having duration of 15 months.
Strategic support to Margdarshak is provided by DIA- Vikas, the Indian entity of Opportunity International, Australia and MicroSave, India provides technical assistance to Margdarshak. The products and services of Margdarshak are born out of understanding that access to finance is not the complete solution to poverty. With this understanding the organisation is viewing itself as emerging one of the leading livelihoods supporting microfinance institution in the region. (download brochure)
