Lifeline offers interest free microfinance for income generating activities primarily to women. Our micro-loans provide funds to micro-entrepreneurs to operate their business without the burden of expensive interest payments and frees them from the clutches of the money lenders. They are therefore able to enjoy the fruits of their hard work themselves and build businesses and savings.
In Q1, there was a strong performance, and TLF disbursed 985 Loans totalling ₹78.3 lakhs. Loan collection has reached ₹81.8 lakhs and was higher than the amount disbursed in the quarter.
Lifeline consolidates its individual loan portfolio
The Lifeline Foundation has been operating interest free loans to individuals for specific requirements such as higher education, micro-businesses, Debt clearance, vehicle loans and medical emergencies. These are given to those people who do not fit into the regular micro-loan structure. Around ~300+ loans have been given so far, and the average loan given is ~₹30,000. In Q1 FY23, 24 individual loans, totalling to ₹7.43 lakhs was disbursed.