is a non-profit organization registered as a Section-25 company, founded in the year 2005 with the objective of providing economically disadvantaged persons living in slums, increased access to financial services and to bridge the gap with the formal financial sector, thereby helping them to improve their financial circumstances.
The word ‘Swadhaar’ in Hindi means ‘self support’ and is a reflection of the organisation’s objective of helping its clients improve their financial circumstances – to achieve self-reliance, to increase their income generating potential and to ensure that they are able to meet their daily needs.
From the year 2005 to 2008, SFA provided small loans to these groups. This was the pilot phase of micro-credit operations. In May 2008, the promoters of SFA received a license from Reserve Bank of India, to form Swadhaar FinServe Pvt. Ltd. (SFPL)
a for profit Non Banking Finance Company (NBFC). This was done keeping in view sustainability and scalability of the operations. SFA’s loan portfolio was subsequently transferred to SFPL.
SFPL currently has its operations across various urban and semi-urban locations in Maharashtra and Gujarat. SFA has its presence in many of SFPL’s areas of operations. Many of the SFPL’s clients also participate in SFA’s Financial Education Programme.
SFA focuses on empowering economically disadvantaged persons, predominantly women living in slum communities by:
- Imparting financial education
- Facilitating opening of no-frills savings accounts for its clients.
- Distributing affordable micro-life insurance policies as an agent of Life Insurance Corporation of India (LIC).
To assist the urban poor, especially women, to enhance their economic capacity by providing financial education and training, and by facilitating access to savings, insurance and loans, which will enable them to cross the poverty line and meet their aspirations for a better future.