Poverty Eradication – Microfinance

Microfinance is a viable alternative with proven efficacy entailing access to finance services for micro-enterprises and small businesses, which usually lack passage to general market financial services like banks due to high transaction costs and service fees. Microfinance is the ideal financing mechanism to ensure sustained growth of micro business ventures, especially in a developing setup with scarce financial resources. We at, DP-360 consider microfinance as one of the best options to achieve poverty eradication.

Our approach to microfinance:

We at DP-360 believe that microfinance is not limited to credit but establishing other services like savings, insurance and fund transfers. We consider the following elements and interventions while assisting financial institutions in establishing microfinancing services:

• Microcredit: ensuring access to financial services at a reduced interest rate for the poor
• Insurance: easy access to general and emergency purpose insurance services  
• Financing lifecycle needs: to cover childbirth, education, weddings, homebuilding, old age and deaths
• Investment opportunities: facilitate investments in fluid and fixed investments
• Financing as a means to attain social equity and poverty eradication
• Revolving fund mechanism