Seeds of Change- Small Seeds. Big Impact

Women are… Women are sisters, mothers, wives, teachers, caretakers and the list goes on and on. But women, are more than the roles they fulfil. They are ambitious, determined, hardworking individuals, who deserve the opportunity to make their dreams come true. And we’re here to give it to them!

The Power of Parity report by McKinsey Global Institute highlights that gender equality would make a larger economic impact in India than in any other region. If we put a number to it, this would translate to a 60% increase in GDP, amounting to approximately $2.9 trillion by 2025. However, this potential can only be reached if the existing economic and social gender gaps are bridged.

While social gaps are slightly tricky, they aren’t impossible. It involves a change in the mindsets that people have grown to accept. The gender roles that women have assumed over time will take time to overcome, but the financial aspects might just be a little easier.

The existing credit gap in women-owned MSMEs stands at a gargantuan $20.16 billion, despite their proven credibility with regards to the risk involved and regularity of repayment. It’s alarming that 107 million women remain unbanked, with another 170 million that have bank accounts with an inactivity rate of 52%. Today, a number of financial service providers that deliver instruments designed to bridge this gap between the financial support needed and supplied through credit.

At Capri Global, we don’t look at women-entrepreneurs any differently than we see men. However, we acknowledge the disparity and hope to play a small part in bringing about gender equality. We believe that women can and will become socially and economically independent if given the opportunity. Our research identified the non-availability of micro-finance as the primary factor that holds ambitious women back. Women with dreams of doing more, becoming someone, working for herself, and creating a better future for her family with her acumen and strengths.

With women-owned enterprises accounting for 10.24% of employment, positive interventions in the MSME sector can help increase women’s participation in the national and global economy. Our focus on this sector is aligned with our global vision of becoming the engine for the economic empowerment of women. 43% of our customers are women which proves that we mean business. Through the course of the last year alone, we partnered with 30,000 women for home and business loans. Drawing from these insights and our understanding, we have introduced Women Power SME loan (UDAAN), a women-centric product that delivers MSME loans for women.

What are the eligibility criteria?

There are a few stipulated conditions that determine your eligibility:

• Where the primary MSME loan applicant is a woman entrepreneur
• The business/enterprise against which the loan is availed must be run or co-run by the woman borrower
• Women that fall in the age bracket of 18-45 years, with the maturity of the loan lapsing before they turn 60
• The applicant must have played an active role in the business for more than 12 months with documented proof of the same

The tenure of the loan can range between 10-15 years.

In addition to granting access to credit, CGCL also delivers certain exclusive benefits under this scheme. To encourage women to take and repay loans regularly, CGCL will be providing EMI waivers at different stages-

On maintaining an excellent track record (ETR) for the entire loan tenure, the borrower will be rewarded with 10 EMI waivers at no extra cost, with:

• 3 EMIs waived off at the end of the 3rd year of regular payment of EMIs
• 5 EMIs waived at the end of the 5th year of regular payment if EMIs
• 10 EMIs waived off at the end of the 10th year of regular payment of EMIs
• According to Rajesh Sharma, MD of Capri Global Capital. Ltd, "Keeping women outside the purview of financial inclusion can not only stymie economic activity but also prevent the fruits of economic gain reaching the deeper reaches of the society. Without access to formal credit, women will continue to remain confined within the four walls of her house and be deprived of a standing in the community. Needless to say, seeding enterprises or independently supporting her family will also prove to be a herculean task for her, should financial instruments not be made available to women."

Today, Capri Global is entirely invested in the belief that women have the potential to become major drivers of economic growth. By integrating women into both workplaces and marketplaces, we believe that the world can reap the Gender Dividend.

Capri Global offer small value business loans to a wide spectrum of clients in manufacturing, trade, retail and services sectors.