ASOMI Finance Private Limited

Products of AFPL

1. Pragati Loan
  AFPL provides financial assistance to develop the economically weaker and underpriviledged section of society through its Self Help Group (SHG) model of microfinance. Under the SHG model 10 - 20 women belonging to a homogenous background are brought together to form a Self Help Group, which imbibe the principle of self help and mutual help for their all round development. AFPL is one of the pioneering organisations working for the promotion of Self Help Groups (SHGs) in the state of Assam. The SHGs are autonomous and democratic entities and have their own office bearers to maintain their books of accounts. SHGs also have a bank account in their name. SHGs meet every week, wherein the members collect internal savings and conduct other financial transactions. The SHG members are imparted training by the AFPL official after which they become eligible for loans. The loans are provided by AFPL to be utilised in income generating activities, thus enabling them to secure a sustainable source of income. By assisting them financially AFPL has been able to positively impact the lives of thousands of people living under improvised conditions.

No of Borrowers in a Group Loan Amount Total Installment Installment Repayment Rate of Interest Tenure
10-20 RS 2000 to Rs 15000 50 Weekly 25.5%(Reducing) 1 Year

2. WatSan Loan
  The ground scenario for most rural communities and small towns in Assam is still not upto the mark and dependent on rain, streams and rivers for drinking and other domestic and agricultural purposes. These sources have proven to be unsafe. Access to safe drinking water and the status of sanitation & hygiene in Assam is substantially less than the national average. According to the 2011 India Census Report published by Government of India, % of household in Assam having access to safe drinking water was 69.9 % as compared to the all India average of 85.5 %. It is a matter of concern that many people suffer from various diseases, mostly water-borne diseases originate in and enter the human body on account of lack of access to safe drinking water. Thus, safe water and sanitation facility is a major cause of concern in today's world. The Water Sanitation Health and Hygiene (WSH) project was initiated in the October, 2011 with the intend to serve as a tool to accelerate investment and action towards attainment of safe drinking and sanitation to improve the health and well- being of the poor and underserved living in rural and urban area of Assam. In keeping with its triple bottom line approach that includes environmental, social and economic factors of a society, for sustainable development, the WSH project provides ample scope for the development of the rural population by making them aware of their basic health conditions and hygiene requirements and also encourages them to imbibe a healthy and disease-free lifestyle. By this project Asomi has tried to bring one of the basic and major problem faced by the population residing in the rural areas of Assam i.e., to the forefront and take adequate measures to solve them.
a) To provide sustainable safe drinking water and sanitation facilities
b) To create awareness for safe drinking water and hygienic sanitation facility
c) To provide financial support to acquire safe drinking water and sanitation.

No of Borrowers in Group Loan Amount Total Installment Installment Repayment Rate of Interest Tenure
10-20(For SHG) and (5-9) for JLG RS 2000 to Rs 10000 24 Fortnightly 20%(Reducing) 1 Year

The finance for the WSH loans is provided by AFPL through its SHG lending model. Asomi WSH (Water Sanitation Health and Hygiene) project was started as an effort to increase access to safe drinking water and sanitation facilities along with a change of attitude and behaviour towards hygiene and health within the beneficiary community. As of now the project is running successfully in the districts of Kamrup, Sonitpur, Sibsagar, Jorhat and Golaghat. It is hoped that the prevalence of water borne diseases shall decline in the state with the expansion in project operations.