A few years ago, Kashipur resident Kamaljeet Kaur’s family was undergoing a financial crisis. Her husband runs a flour mill but the income was not enough to meet the family expenses. She reached out to Fusion Microfinance, a Non-banking Financial Company- Microfinance Institution (NBFC-MFI), for micro-credit to start her own cosmetics cum grocery shop. Gradually, her business grew and she was able to contribute significantly to her household income. With her income, she was able to meet the educational and other needs of her four children in a better way.
Similarly, Anita who is a resident of Dhampur, was able to start a grocery shop with the help of micro-credit provided by Fusion. She too was struggling financially but as her income from the shop increased her financial status improved.
Fusion Microfinance claims to be one of the leading NBFC-MFIs working in Uttarakhand.
The company provides micro-credit services in over 45,000 villages in 16 States and in its endeavour to provide easy access to financial services to its clients has impacted about 10 lakh lives. The company claims to have helped many local women entrepreneurs to improve their economic status and realise their dreams to improve their quality of life.
sNBFC-MFIs such as Fusion are the second largest provider of micro-credit with a Gross loan Portfolio of `1600 crore.