Swadhaar FinAccess
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NGO Profile
Who we are
Swadhaar FinAccess is registered as a non-profit company under Section-25 of the Indian Companies Act of 1956. It has received registration under section 12AA of the Indian Income Tax Act and donations are eligible for benefits under Section 80(G). SFA is also eligible to receive contributions under the FCRA. The word ‘Swadhaar’ means ‘self support’ and is a reflection of the organization’s objective of helping its clients improve their financial circumstances – to achieve self-reliance, to increase their income generating potential and to ensure that they are able to meet their daily consumption needs.
During the first three years SFA provided these groups small loans. This was the pilot phase of micro-credit operations. In May 2008 the promoters of SFA received a license from Reserve Bank of India to form Swadhaar FinServe Pvt. Ltd (SFPL) a for profit Non Banking Finance Company (NBFC) keeping in view sustainability and scalability of the operations. The loan portfolio was subsequently transferred to SFPL.
SFA the non-profit entity has since focused on empowering economically disadvantaged persons, predominantly women living in slum communities by:
Providing financial education to economically disadvantaged persons, predominantly women residing in the slum communities.
Facilitating opening of no-frills savings accounts for its clients.
Distributing affordable micro-life insurance policies as an agent of Life Insurance Corporation of India (LIC).
Mission Statement
To assist the urban poor, especially women, to enhance their economic capacity by providing financial education and training, and by facilitating access to savings, insurance and loans, which will enable them to cross the poverty line and meet their aspirations for a better future.
