FAQ

Wegrow is an NBFC incorporated under extant guidelines of MCA and RBI having its Headquarter at Kolkata, West Bengal. WeGrow aims to extend Micro-finance across India with a prime focus on Eastern and North eastern states. Management and Boards constitute of leaders and experts of Micro-finance and Banking sectors have commitments to achieve socio-economic progress of low income communities.

 

WeGrow focuses specifically on that area where the need is the greatest for its services. Presently the activities of WeGrow is in Alipurduar, Coochbehar districts. In every district, BJS has different branches. BJS likes to give more focus to North Bengal because that area is underserved.

WeGrow is currently involved in implementing Integrated Community Development Projects for the socio-economic development of the poor women. Present projects are as follows.

  1. Micro Loans for empowerment and job creation.
  2. Knowledge development via financial literacy and awareness campaigns.

The essential features for target clients of WeGrow are as follows:

  • The women
  • Who are in the low-income group.
  • Who has no own capital.
  • Who has no access to banks.
  • Who are helpless and weak economically and socially.

WeGrow utilizes two different delivery methodologies for lending – Group model and Individual model to serve a wide variety of needs and backgrounds of our clients.

Group Model

  • The maximum number of member in a group is 20.
  • From similar socio-economic status.
  • Live in the same neighbourhood.

Individual Model

  • Clients should have at least three years as a group member and a good credit history.
  • Clients should have specific income-generating activities.

The clients of WeGrow are using their loans entirely for income-generating activities for getting more profit. They are meeting their family expenses especially educational expenses of their children from this profit. The lifestyle of the family has been changed. As an earning member of the family, they are now able to have an overt influence on the household decision-making process.

Women worker throughout the world contributes to the economic growth and sustainable livelihood of their families and communities. WeGrow helps to empower women from poor households to make this contribution. WeGrow services lead to women’s empowerment by influencing women’s decision-making power and enhancing their overall socio-economic status.

Traditionally women have been disadvantaged in access to credit and other financial services. Targeting women borrowers make sense from a policy standpoint. The business case for focusing on women clients is substantial, as women clients register higher repayment rates. They also contribute larger portions of their income to household consumption than their male counterpart. Studies show that net incomes generated by women are often first invested in children’s education, particularly benefiting girls.