Belstar has traversed a long path in its growth from being an MFI offering low ticket size loans to the under-served to also becoming a direct means of helping smaller, local institutions cater to their clients through service provider model.
A strategic initiative to leverage operational strength and deeper customer connect, the business has been an anchor to many smaller lending institutions.
The larger goal of the strategy is to help smaller local institutions cater to their customers which they were unable to serve due to dearth of funds. The other key objective is to leverage the operational strength and deeper customer connect of smaller local microfinance institutions to build a robust and sustainable portfolio.
The initial discussion involves understanding the client’s interest in associating with Belstar, their business model and the feasibility of aligning their model to that of Belstar. If the initial discussions are effective and positive, the client shares a synopsis of their company’s profile and operations for an overview.
The client shares specific documents which are verified by the Head of Inorganic vertical. If approved, the potential branches for the partnership are finalized based on the geographical presence of the client and the expansion strategy of Belstar.
The Inorganic team visits the existing branches and the client’s head office to understand the on-ground implementation of the processes and policies and interact with the customers, sales force and management teams to plan out the proposal.
The management proposal along with the due-diligence report is shared with the higher management for their approval and suggestions.
Post documentation formalities, the training process ensures smooth transition and functioning of the SP branches. Training is provided on operational aspects, IT processes and organizational expectations.
Once the SP branches go live, it is important to keep a check on the portfolio quality and process adherence. This is done through internal audits, management interactions, sharing monitoring reports and conducting monitoring visits.
Ambition Services Pvt.Ltd
Shikhar Microfinance Pvt. Ltd.
SaGgraha Management Services Pvt Ltd
GU Financial Services Private Limited
Vector Finance
Our intricately detailed model and products are structured so that they help advance our customers from everyday survival to well-laid plans for the future.
Customers benefitted
Belstar’s success stories paint the picture of how women have inspired many by beating impossible odds and succeeding on their own for their families, with a little help from microfinance.
Belstar’s objective is to identify and effectively empower women to build a sustainable livelihood by giving them access to credit and training. Shajeena from Aluva is one such empowered woman and belongs to the Belstar JLG named Ambal. An enthusiastic person, Shajeena loves to spend her time
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Hema Prasad is 38 years old and lives in Khatima, Uttarakhand with her family. Her husband is a factory worker and earns a very minimal daily income. With a desire to improve the standard of living for both her and her family she started a small general store about 9 months ago.
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At Gudiya Singh’s small home in Lucknow, Uttar Pradesh the hum of the sewing machine has become the norm. Gudiya runs a tailoring shop from her home, she has two machines and uses them to do embroidery. Gudiya is happy to have become part of the Belstar family.
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Seema lives in Shimoga with her husband and children. She has been engaged in ‘plate-making’, while her husband is a daily-wage labourer. Their joint income was not enough to keep the family running. While Seema had ideas to start her own business, there was a paucity of funds.
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