Products & Services
Microfinance is an effective tool for poverty alleviation and spreading economic opportunity by giving people access to financial services, such as credit and insurance. Flute Developers provides financial services to the unserved and underserved people so that they can start or expand their small businesses and increase their incomes.
The company is offering both financial and non-financial services to the resource poor, unbanked and marginalized people in rural and semi-urban areas. The services aim to meet the evolving needs of community and people who are involved in agricultural and small business activities. It has also come up with customized insurance products for its clients. AFPL uses the group lending model (SHG and JLG) where poor women guarantee each other’s loans. Borrowers undergo financial literacy training and must pass a test before they are can avail loans. Monthly meetings with borrowers follow a highly disciplined approach. Re-payment rates on the Company’s collateral-free loans are more than 99% because of its regular monitoring and follow up on loan utilization. The company has also systematically introduced various individual need based products for its clients.
The company has introduced large size individual loans to provide financial assistance to the MSME segment. It has also introduced individual loans for Housing finance, catering to the affordable housing segment.
MID-TERM LOAN
Extending financial assistance to current Joint Liability Group (JLG) customers who are in the process of repaying their loans, with a primary repayment amount ranging between 40% and 70%.
JIT Loan
The Just In Time loan is a pre-approved emergency loan product designed to provide quick financial assistance to existing customers. This short-term loan serves various purposes, including covering medical bills, educational expenses, debt consolidation, repairs, renovations & micro business needs among others.
Group Loans
Providing loans to rural households, especially women, to expand their existing businesses or venture into new livelihood activities, thereby diversifying their income sources. These loans could be utilized in agricultural endeavours, establishing and nurturing microbusinesses, supporting handicraft and handloom industries, among others.
| Agriculture Crops | Agri Equipment Financing | Agri Allied | Micro Enterprise | Handicraft and Handloom |
|---|---|---|---|---|
| Cultivation of different crops & land development crops like: Paddy, sugarcane, mushroom, Vegetable, groundnut etc | Bullock and Bullock cart, threshers, tractor, Power tiller, Paddy reaper, Water Pump set & lift Irrigation etc | Dairy farming, Poultry, goat rearing, Piggery, Fishery etc | Spice making, dry food processing, Individual business, Beetle shop, Fruit shop, Fast food stalls, paddy processing unit etc | Weaving cotton sarees, Bamboo products, coir production, Brass work etc |
MSME Business Loan
We extend our support to micro, small, and medium enterprises, addressing their crucial working capital requirements. Our product is strategically crafted to offer seamless financing solutions to both registered and unregistered business segments. These loans are classified into two categories, secured and unsecured, determined by the client’s profile, often influencing the loan amount. The loan supports upgrading existing business infrastructure, restocking inventory, and expanding operational capacities, among other business-enhancing endeavours.
Housing Loan
Empowering households with a sense of social security and economic well-being, we cater to the growing demand for affordable home loans. Our secured & unsecured lending solutions offer higher ticket size loans to individuals with both formal and informal sources of income, covering various needs such as home construction, flat purchase, home renovation, and balance transfers.
Samarth Loan
Financial assistance to marginalized segments who have historically been excluded from mainstream financial services. This inclusive program specifically targets individuals such as persons with disabilities, transgender people, single mothers, widows, unmarried women, and leprosy-affected communities.
Safe Water and Sanitation to Households (SWASTH)
Our SWASTH Loan is designed to facilitate the installation of safe water and sanitation infrastructure. Our loan product is structured to deliver a wide range of advantages, including increased convenience, time savings, improved privacy, enhanced safety, decreased healthcare costs, and an overall enhancement in the quality of life.
Dairy Development Loan
Our Dairy loan aims to provide comprehensive financial assistance for various aspects of dairy farming. This includes financing for cattle purchases, infrastructure development, medical support, and other additional expenditures.
RTS Loan
Financial assistance for the installation of solar panels, catering to both residential and commercial needs. We aim to facilitate the transition towards renewable energy sources, supporting individuals and businesses in harnessing the power of solar technology for a greener tomorrow.
Consumer Durable Loans
The loan targets our existing customers seeking financial support for the acquisition of consumer durable goods & home appliances. Its purpose is to fulfil their financial requirements and facilitate an enhanced quality of life.
Home Improvement Loan
Our Home Improvement loan empowers customers to enhance their existing homes, thereby elevating their quality of life and ensuring their privacy, safety, and well-being. By availing this loan, individuals and families can upgrade their living conditions, creating a positive impact on their lives.
PMSVANidhi Loan
Providing essential working capital assistance to street vendors who are actively engaged in vending their goods and services in both urban and rural areas.
