Shalom Micro Finance
Shalom Micro Finance Limited, registered under the Companies Act 1956, is primarily involved in micro credit and micro housing. Shalom is dedicated to the development of underprivileged and marginalized of the society by facilitating sustainable initiatives of the target community, empowering women, promoting education, hygiene and providing decent shelters.
As an NBFC, Shalom Micro Finance believes that the only possible technique of empowerment is increasing the income level of the poor and underprivileged and in an effort to do so we assist each woman involved in the Shalom Self Help Groups (SHGs) to take up some kind of micro enterprises. These livelihood activities and skill trainings go a long way to create substantial changes in their attitude and improve their lives. Shalom is determined to assist poor women and promoting 20000 small enterprises with a financial outlay of Rs.240 million by 2012.
Shalom Micro Finance aims at fostering initiative, independent thinking, mature personality, an awareness of the needs of others and the art of group living. Keeping these objectives in mind, Shalom has drawn up a plan to make the world a better place where all can live in peace and harmony. Realizing the potential of MF in poverty alleviation, the organization has gradually modified its different schemes to suit the requirements of poor masses and clients.
Shalom Micro Finance is one of the established and fast-growing NBFCs in Kerala.Over the years, Shalom Micro Finance activities have carved out a peculiar place for themselves and today Shalom is a well-known entity in the fields of micro finance and micro housing not only in Kerala but also in India.
History
Shalom was registered in 1998 as an NGO. Since then work has been undertaken formally and small programs such as seminars on social issues, shelter for the aged and deprived, medical camps and camps for distribution of assistive devices were organized.
Shalom was initiated with an idea to help communities in various aspects of their life and catered to the financial needs of clients by reaching out to them with a diverse range of products.
In 2001, micro housing was initiated with the dedication of the first five houses. Other support programs such as Self Help Groups (SHG), skill training programs and cost effective vegetable cultivation for the SHG members etc. were also initiated gradually.
Shalom-NGO initiated its micro finance activities in 2003 through the SHG Bank linkage program of NABARD. SBI extended its support to the program in 2004. The NGO also entered into a ‘Partnership' arrangement with ICICI to promote its micro finance program.
Having established and gained considerable field level experience, the NGO decided to expand its micro finance activities to newer areas and markets, enhance outreach in terms of clients served, establish better systems and operate through an appropriate legal framework. To ensure smooth operations and embark on a structured growth path Shalom transformed into an NBFC – “ Shalom Micro Finance Limited”.
Shalom Micro Finance Limited will help build on the value proposition of the organization being an institution which meets the diverse financial needs of customers through high quality sustainable products.
Vision & Mission
To be the most sought after institution by the low income communities, providing quality financial services for their economic empowerment and enabling the outreach to 4 lakhs clients by 2012. To build a credible institution to attract investment and provide a range of client-oriented financial products and services as well as foster an environment for development of professionals.
