FAQ
General Questions
Aabhas Microfinance Association is a non-profit organization dedicated to providing financial services, such as microloans and savings accounts, to low-income individuals and communities to help them improve their livelihoods.
Aabhas Microfinance Association works by providing small loans, usually without collateral, to individuals who lack access to traditional banking services. These loans help individuals start or expand small businesses, generate income, and improve their standard of living.
Aabhas Microfinance Association primarily serves low-income individuals, especially women, in rural and underserved urban areas. These individuals often lack access to formal banking institutions and rely on microfinance for financial assistance.
Aabhas Microfinance Association offers a range of financial services, including microloans, savings accounts, insurance products, and financial education programs tailored to the needs of its clients.
Aabhas Microfinance Association employs various strategies to ensure loan repayment, such as group lending models, frequent monitoring, and financial literacy training. Additionally, the organization fosters a sense of community responsibility among borrowers to encourage timely repayment.
No, Aabhas Microfinance Association is not solely focused on lending money. It also emphasizes financial literacy and provides training to help clients manage their finances effectively and make informed financial decisions.
You can support Aabhas Microfinance Association's mission by making donations, volunteering your time and skills, spreading awareness about microfinance, and advocating for policies that promote financial inclusion and empowerment.
Aabhas Microfinance Association operates independently as a non-profit organization but may collaborate with government agencies, financial institutions, and other organizations to expand its reach and impact.
You can typically apply for a loan or other services from Aabhas Microfinance Association by contacting their local branch office, which will guide you through the application process and eligibility criteria.
Yes, Aabhas Microfinance Association charges interest on loans to cover its operational costs and sustain its services. However, the interest rates are usually lower than those offered by traditional lenders, making them more accessible to low-income borrowers.
