UMPL was established in September 2009 to provide financial services to the financially excluded population, and essentially provides credit to female borrower groups under the Grameen model.
In addition to its for-profit activities, the Company also contributes part of its profit to a foundation that provides development services in the field of financial literacy, technical trainings and market linkage facilities.
UMPL essentially operates in rural and peri-urban areas in the states of Uttar Pradesh and Bihar. These areas are among the poorest of India and are clearly suffering from limited availability of financial services adapted to the low-income population.
Credit provision to MSMEs: Operations are essentially related to the origination and monitoring of microloans
Food security and rural development: MFI mostly active in rural areas; portfolio consists of livestock, trade and agriculture.
MFI caters primarily to women.
BIO’s USD 5m loan will also contribute to financing approximately 16,500 self-employed women.
Location: India, Uttar Pradesh, Varanasi