Life Betterment Solution
Our Products
Sugmya offers a range of diligently designed products and services that meet the financial requirements of hardworking individuals from humble backgrounds. The offerings include income generating loan (IGL) loans, MSME loans etc.. These financial products are designed not just to empower middle class entrepreneurs but also to improve their quality of life. Sugmya’s products are specifically tailored to a variety of industries aiming to maximize business growth. We also provide Insurance at a Nominal cost. We minimize the cost of fidelity insurance due to 100% cashless transaction.
The aim of Sugmya Finance’s financial inclusion drive is to deliver financial services to masses, including underprivileged and disadvantaged people living in the rural sectors of Indian society, at affordable terms, in quick turnaround time, and with hassle-free processing. The customers can do business at their own place. Tailored products have been designed by us to help families enhance their financial well-being and empower the entrepreneurial spirit and skills of women.
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MSME-Unsecured Business Loan
MSME – Unsecured Business loans are our principal loan product offered to missing middle segment entrepreneurs in rural areas, intended to provide capital for their small businesses. The loans are offered for businesses in multiple sectors. Through our Business loan package, Sugmya Finance aims to provide financial support to disadvantaged peoples who have the potential to uplift themselves in the society, but investment has been the hindering factor all while. Sugmya Finance provides loans to micro enterprises – for initial investment and for expanding businesses.
| Loan Amount | 50,000 to 2.5 Lakh |
| Tenure | 18 to 24 Months |
| Rate of Interest | 22 to 29.98% Reducing Method |
Income Generating Loan (IGL)
Income-generating loans are our principal loan product offered to women in rural areas,
intended to provide capital for their small businesses. The loans are offered for businesses in multiple sectors.
Income generating loans are backed with group guarantee in a joint liability group
Lack of capital is identified as one of the most important obstacles for disadvantaged women to venture into entrepreneurship.
Through our IGL package, Sugmya Finance aims to provide financial support to disadvantaged women
who have the potential to uplift themselves in the society, but investment has been the hindering factor all while.
Sugmya Finance provides loans to micro enterprises – for initial investment and for expanding businesses.
The loans are offered in different cycles.
| Loan Amount | 30,000 to 60,000 |
| Tenure | 12 to 24 Months |
| Rate of Interest | Bi-weekly/Two Bi-Weekly |
Individual Loan
individual loans are made to our existing customers who have been associated with our Company as customers for at least two years for their income generating activities.
| Loan Amount | 600 to 3699 |
| Tenure | Up to 4 Months |
| Rate of Interest | Bi-weekly/Two Bi-Weekly |
- Access to credit for the marginalised sections of the society
- Enables access to education and healthcare for people who do not have access and/or affordability
- Improves income and nutrition for families, especially women
- Smaller loans do not burden the individual and family and repayment is in easy installments
- An entrepreneur once successful will hire others, and it will lead to job and wealth creation
- Significant economic gains for the nation as a whole
Applicants must meet the following requirements to be eligible for the loan:
- Should fulfil KYC documents requirements
- Age should be between 18 to 60 years
- Should not have an adverse credit record
- Should meet the acceptable credit norms as per RBI and Sugmya Finance
- Should be part of a group of customers who are willing to guarantee each other for the repayment of loan
How to Apply
- Visit the nearest Sugmya Finance branch and our Relationship Officer will guide you on the application process.
- Call us on our toll-free number 1800 1027 631and our Relationship Officer will fix a doorstep service appointment to help you with the application process.
For Terms and Conditions, please contact the nearest Sugmya Finance branch.
Loan approval is at the sole discretion of Sugmya Finance Limited.
A complete KYC process is required to take a microfin loan.
The documents required are:
- Primary ID:
- Aadhaar
- Secondary ID:
- Voter ID card
- PAN card
- Passport
- Driving licence
- MGNREGA Card
- Letter issued by Government authorities
- Passbook of nationalised banks
- Address Proof:
- Voter ID card
- Aadhaar
- Passport
- Driving licence
- MGNREGA Card
- Letter issued by Government authorities
- Passbook of nationalised banks
- Life Insurance policy or latest Premium receipt
- Rent agreement
- Consumer gas connection card/Book
- Utility bills (not more than 90 days old)