MICRO FINANCE - ABRUS KRISHNA FINANCE
Service Overview
The Micro Finance Loan provided by Abrus Krishna Finance is designed to support economically active individuals who require small, short-term credit to sustain or scale their livelihood activities. This service assists daily wage earners, small vendors, home-based entrepreneurs, and self-employed workers in meeting working capital needs, seasonal requirements, stock replenishment, household income smoothing, and other essential financial activities.
Abrus Krishna Finance operates as a licensed money-lender under the Kerala Money-Lenders Act, 1958, adhering to all statutory provisions related to licensing, interest rate limits, documentation, record-keeping, and ethical lending practices. This ensures complete legal compliance, transparency, and customer protection in every transaction.
Key Features
- Fast approval with minimal documentation
- Tailored micro-credit for livelihood and income support
- Flexible repayment schedules (daily/weekly/monthly) matching income patterns
- Interest rates fully compliant with the Kerala Money-Lenders Act (simple interest)
- Primarily unsecured (no collateral required for most schemes)
- Transparent terms with no hidden charges
- Documentary transparency and statutory record-keeping
- KML-Compliant loan agreements for full legal validity
- Repeat loan eligibility for disciplined borrowers
- Structured customer support and reminders
Eligibility Criteria
- Applicant must be 18 years or above
- Must be a resident of Kerala
- Must have a verifiable source of income (business, wages, self-employment, family support)
- Must provide complete KYC documentation
- Must demonstrate basic repayment ability
- No active defaults or unresolved disputes with other lenders
- Candidate must visit the branch at least once for agreement signing as mandated by KML legislation
- Aadhaar Card
- PAN Card
- Valid Address Proof
- Recent Photograph
- Signature Proof
- Income Proof (any one):
- Bank statement
- Business receipts / trader details
- Daily income record
- Employer/work certification
- Micro Finance Loan Application Form
- KML-Compliant Loan Agreement
- Post-dated Cheques / Guarantee Form (if required under selected scheme)
Permitted Uses
- Working capital for small shops and stalls
- Inventory purchase (groceries, vegetables, household goods)
- Home-based business expenses
- Purchase of raw materials or tools
- Seasonal stock financing
- Daily income support and household needs
- Small equipment repairs or replacements
- Community group business support
Not Permitted
- Large business expansion beyond micro scale
- Property purchase or real estate investment
- Speculative or high-risk ventures
- Activities outside declared loan purpose
- Loan Amount: Designed for micro-level financial needs
- Tenure Flexibility: Repayment cycles tailored to income frequency
- Quick Processing: Sanction within same/next business day
- Interest Structure: Simple interest, strictly within KML limits
- Unsecured Option: No collateral for most schemes
- Scheme Diversity: Based on earning type, income patterns, and loan purpose
- One-Time Branch Visit: Mandatory under KML for final agreement signing
- Interest rates are strictly within the Kerala Money-Lenders Act, 1958 limits (simple interest).
- No compounding beyond statutory limits
- All charges clearly disclosed before sanction
- Borrower receives:
- KML-compliant Loan Agreement Copy
- Repayment Schedule
- Receipts for all payments
- No unauthorized penalties or hidden fees
Note: A licensed money-lender must maintain accurate loan registers and furnish receipts/statements upon written request.
We offer multiple flexible schemes under the Micro Finance category. Scheme selection is based on:
- Borrower profile
- Income type and frequency
- Loan requirement
- Market conditions
- Internal company policies
The applicable scheme, interest structure, seasonal benefits, and repayment flexibility will be explained and finalized at the branch visit. Schemes may change based on market and policy conditions.
Frequently Asked Questions
What is the loan amount range?
Small-ticket micro loans based on customer eligibility.
Is collateral required?
No — most micro finance schemes are unsecured.
Who is eligible?
Small vendors, daily earners, home-based entrepreneurs, self-employed individuals.
How fast is approval?
Often completed within the same day.
What documents are needed?
Basic KYC + simple income/activity proof.
Is branch visit mandatory?
Yes, once for legal agreement signing (KML requirement).
Can repayment be daily or weekly?
Yes, based on income pattern and scheme selection.
Can I get a statement of account?
Yes — must be provided if requested in writing.
What if interest charged is higher than agreed?
Charging excess interest is an offence under KML Act.
Can I renew the loan?
Yes, for customers with good repayment behaviour.
Apply for a Micro Finance Loan Today
Empower your livelihood with fast, compliant, and transparent micro-credit from Abrus Krishna Finance.