SAFL announces entry into Madhya Pradesh for creating sustainable development of agriculture sector

by Shrutee K/DNS

Indore, 3^rd February, 2017: Sustainable Agro- Commercial Finance Ltd.   (SAFL), perhaps the first non-banking financial company exclusively focused on farm related loans announced its entry into Madhya Pradesh for creating sustainable development by extending financial services to the farmers in the state. The announcement was made by Mr. Arvind Sonmale, Managing Director and CEO of SAFL in Indore.

SAFL has carved a niche in Maharashtra and Karnataka already as an NBFC extending farm related loans to the tune of over Rs. 370 crores, so far. SAFL has an enviable record of extending its services to credit starved and neglected farmers. SAFL has changed their lives by a sustainable development module through making direct payment to the vendors for installing agricultural infrastructure in fields especially in areas like Vidarbha and Marathwada in Maharashtra. It has now entered into Madhya Pradesh to provide its professional services to develop agricultural activity and extend financial assistance to more and more farmers in the state.

SAFL’s financial assistance includes activities like installing solar pumps to ensure dependable energy to grow crops and create sustainable development for the farmers, drip irrigation and sprinkler irrigation to save water & increase crop yield, Lift Irrigation schemes to transport water to make the farms green, agriculture projects, small business loans, loans for farm equipment, land development, horticulture plantations, poly houses, shed nets, dairy and just about any capital investment in agriculture.

While speaking on the occasion, Mr. Arvind Sonmale, MD and CEO, Sustainable Agro-Commercial Finance Ltd.said “For many years Indian farmers have been unable to access timely, adequate and affordable capital to invest in farming and develop agricultural infrastructure. We are committed towards offering permanent solutions for sustainable development and efficacy of our farmers as well as the nation. All these facilities and services will now be provided to farmers in Madhya Pradesh so that they can also march on the way of progress and a high standard of living”

“Like most of India, Madhya Pradesh too largely depends on rainfall which is full of uncertainties. Hence there is an urgent and dire need for conserving and optimizing usage of water.  Besides drip irrigation systems, other innovations such as high yielding seedlings/plants, farm mechanization, automation systems, for improving productivity need to be adopted” added Mr. Sonmale.

SAFL is also running a Special Lending Program to take care of widows of farmers who have committed suicide and are neglected in the family and society. Such widows are provided interest free loans to develop small and micro businesses such as a grocery shop, bangle shop, flour mill, cosmetics, etc. This is a unique scheme by SAFL in which upto Rs. 5000, there is no interest, uptoRs. 5,000 to Rs. 15,000, an interest of 5 percent, from Rs. 15,000 to Rs. 25,000 interest is 6 percent and upto Rs. 50,000 interest is 7 percent. There is no requirement of any security or margin money with very easy repayments over 3 years. Over 100 such widows have been assisted in the last 9 months.

SAFL not only helps the farming community by providing necessary finance but also empowers and motivates them to make their livelihood sustainable.