Ujjivan Financial Services, an Indian microfinance institution, recently announced the launch of its new short-term business loan (STBL) product in Delhi, India. The product’s objective is to provide working capital to individual customers who have been customers of Ujjivan for more than a year through its joint liability groups. STBL loans will bear annual interest rates of 22 percent to 28 percent. To be eligible for the loan, the Ujjivan customers will continue to be a part of the joint liability group and attend group meetings, however, after one year they can convert the loan to an individual loan and will not be required to attend further group meetings. Additionally, the STBL is designed to fulfill the seasonal and short-term business needs of customers whose specific business capital requirements increase during the year for a duration of three to eight months.
Ujjivan reported total assets of USD 72 million for fiscal year ended March 31, 2010.
By Jennifer Shevock, Research Associate
About Ujjivan Financial Services:
Ujjivan Financial Services is an Indian microfinance instituation created under the guidance of Grameen Bank of Bangladesh to empower poor working women through financial services in urban and semi-urban regions in India. Ujjivan reported total assets of USD 72 million, a gross loan portfolio of USD 82 million, a return on assets of 3.17 percent and a return on equity of 9.45 percent for the fiscal year ended March 31, 2010.
Sources and Additional Resources:
“NBFC-MFI Ujjivan Introduces Short Term Business Loan in Delhi” September 17, 2010. http://www.microfinancefocus.com/news/2010/09/17/nbfc-mfi-ujjivan-introduces-short-term-business-loan-in-delhi/
MICROCAPITAL BRIEF: “India’s Parinaam Foundation Refunds Interest on Education Loans Disbursed by Ujjivan Financial Services” September 9, 2010. https://www.microcapital.org/microcapital-brief-india%E2%80%99s-parinaam-foundation-refunds-interest-on-education-loans-disbursed-by-ujjivan-financial-services/
MICROCAPITAL BRIEF: “Indian Microfinance Institution Ujjivan Financial Services Raises $10m Through Issue of Non-Convertible Debentures (NCDs)” August 12, 2010. https://www.microcapital.org/microcapital-brief-indian-microfinance-institution-ujjivan-financial-services-raises-10m-through-issue-of-non-convertible-debentures-ncds/#more-6398
MICROCAPITAL BRIEF: “Indian Microfinance Institution Ujjivan Financial Services Reduces Interest Rates, Following Lead of Bandhan Financial Services Private Limited” June 16, 2010. https://www.microcapital.org/microcapital-brief-indian-microfinance-institution-ujjivan-financial-services-reduces-interest-rates-following-lead-of-bandhan-financial-services-private-limited/#more-5175
MicroCapital Universe: Ujjivan Financial Services: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Ujjivan
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