Prayaas
An initiative by SIDBI in association with Micro Finance Institutions, Prayaas is a digitised, easy to access platform created for micro entrepreneurs and women to help them avail small business loans ranging from Rs.50,000 to Rs. 5,00,000 for self-employment or any livelihood, which will be disbursed through partnerships with MFIs/NGOs.
To know more visit: https://www.prayaasloans.com/banker/login
advant- tages
- Enhanced Efficiency: Reduces manual processes, expediates loan processing time for quicker fund accessibility.
- Improved Accuracy in Decision-Making: The BRE ensures accurate and consistent loan approval decisions, minimizing errors in creditworthiness assessments.
- Increased Accessibility: Accessibility for bottom of the pyramid entrepreneurs, making financial services more inclusive
- Data-Driven Insights: Integration with SIDBI's LMS allows for comprehensive data analysis, generating insights for strategic decision-making and risk management.
- Cost Savings: Automation contributes to cost savings, directing more financial resources towards the loan program.
- Scalability: Scalable framework ensures easy adaptability to increased demand and ensuring more entrepreneurs benefit from financial assistance.