info@smileltd.in
West Mambalam, Chennai - 600 033.
info@smileltd.in
Ashok Nagar, Chennai-600083.
Monday to Saturday
info@smileltd.in
Ashok Nagar, Chennai-600083.
Monday to Saturday
SMILE’s business model generates greater economic benefits by way of supporting the development of micro-entrepreneurs and their communities in a complex economic situation, while at the same time fostering a responsible financial culture.
JLGs (Joint Liability Groups) are central to the lending methodology that SMILE has replicated. This methodology involves a one-on-one orientation, personalized service, in order to provide maximum client satisfaction.
The loans have to be repaid in fortnightly installments. There is no collateral to back these loans and repayment is ensured through group responsibility and onus. To ensure that the loan is utilized only for the intended purpose, money is given in a staggered manner to the group members and subject to satisfactory assessment by the field credit officers. After clients have formed groups of their choice and agreed on the income generating activity they would like to pursue, SMILE assists its members by equipping them with basic business development skills such as Pricing, Marketing and Quality Management. Field staff members facilitate fortnightly group meetings, in which members undertake the responsibility of approving loans and repayments. Members go through additional social development programmes that cover topics ranging from children's education to health, nutrition and sanitation.
SMILE believes in innovation as a tool to offer customized products and services to address the needs of its clients. Through its products and services, SMILE endeavors to include and value poor indigenous population into economic activities by supporting productive projects, which allow its clients to increase their income and reap benefits for their families and communities.
SMILE offers - Group Loans. Group Loans are used by women, for income generating activities. SHARE has created this product with an intention to build deeper relationships with clients who want to grow their businesses, and at the same time expand the client base by reaching out to new clients.
Loan products | Types of loans | Purpose | Loan term / Duration | Loan size | Rate of interest (Reducing balance) (w.e.f 01/Oct/2020) |
---|---|---|---|---|---|
IGP Loans (Income Generation program loans) |
JLG | Income Generation | 25-52 fortnights | Rs.5,000/- to 50,000/- | 22.25% |
IGP Loans (Income Generation program loans) |
JLG | Income Generation | 12-20 Monthly | Rs.5,000/- to 50,000/- | 22.25% |
Parallel IGP Loans (Income Generation program loans) |
JLG | Income Generation | 25-52 fortnights | Rs.5,000/- to 50,000/- | 22.25% |
Parallel IGP Loans (Income Generation program loans) |
JLG | Income Generation | 12-20 Monthly | Rs.5,000/- to 50,000/- | 22.25% |
Educational Loan | JLG | Education | 12 Fortnightly | Rs.10,000/- to 30,000/- | 22.00% |
Educational Loan | JLG | Education | 12 Monthly | Rs.10,000/- to 30,000/- | 22.00% |
Functional Loan | Individual | Family Function | 1 Day | Rs.20,000/- to 50,000/- | Interest Free |