Products
Despite contributing significantly to India’s growth, a large majority of MSMEs are excluded from the formal financial sector. Pradakshana aims to make capital available to these communities in the most efficient and sustainable manner by sourcing it from commercial and like-minded investors.
Pradakshana offers three loan products i.e., Micro Enterprise Loan to Individual clients, Asset Backed Small & Medium Enterprise (SME) Loans and Personal Loans to Salaried Employees. Repayment frequencies for all loans are monthly and schedules are set based on cash flows of the enterprise or household. These loans are secured by independent guarantors or physical collateral depending on the size and purpose.
Types of Loans
Micro Enterprise Loans
Micro Enterprise Loans- Existing small businesses looking for microcredits to enhance their businesses.
Small & Medium Enterprise Loans
Small & Medium Enterprise Loans- Loans to support and expand existing small and medium business owners.
Personal Loans to Salaried Employee
Personal Loans to Sal Employees- Government salaried employees only who want loans for a marriage, celebration, emergencies or any personal expenditure.
Insurance
Insurance Loan-linked life insurance will be offered to all the clients as a mandatory add-on service. The sum assured would be equal to the disbursed loan amount, payable to the nominee of the deceased, net of any loans outstanding. A partnership would be forged with a life insurance company to offer this product. The company is already tied up with Kotak Insurance.