Interest Free Microfinance disburses 981 micro-entrepreneurship loans in Q2

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 free them from the clutches of the money lenders. They are therefore able to enjoy the fruits of their hard work themselves, build business and savings.

In Q2, there was a strong performance, and TLF disbursed 98l Loans totalling Rs 82 lakhs. Loan collection has also been stable at Rs 78.3 lakhs.

Lifeline builds its individual loan portfolio

Lifeline 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. 3l7 loans have been given so far, and the average loan given is Rs 30,600+. In Q2 FY23, 15 individual loans, totalling Rs 6.15 lakhs were disbursed. E.g., one of the cases given a loan is to a lady doctor who is pursuing her final (3rd) year MS in OBG at SDM College. She will repay the loan of Rs 1 lakh once she receives a job after completing her master’s degree.