NIIPAM helps people achieve financial freedom through various economic activities like supporting members in the farming sector, food processing, and home-based cottage industries. NIIPAM Finance is providing short-term financial support to those who need to expand their businesses, without the hassle of preparing documents, looking for BANK Guarantors, or MORTGAGES.
We are neither financial institutions nor micro-credit banking systems. We are just providing financial support to those who are in urgent need of cash to establish small-scale industries that require funds.
Instead of waiting for a good CIBIL Score, properties, and income proof, we help our members by providing Interest-Free Loans.
How do We Provide Loans?
NIPPAM has several well-wishers and entrepreneurs who believe in our mission to alleviate poverty. We are not running some Ponzi scheme not investing in quick rich money making business. Our income is generated from hard-earned money by playing with mud and soil on the farm. We produce naturally grown vegetables and fruits, collaborating with like-minded farmers. We also have a network marketing business where members contribute by buying our products. The income from these ventures is supporting people. It is people’s money used by people who are in need.
There may not be only one investor who will provide loans to members. There might be 10-20 investors each contributing their shares, a form of crowdfunded model. So there is zero risk for joining NIIPAM Finance.
For example, For Rs 50,000 loans, we might be getting 10 investors each contributing Rs 5,000 each. This lessens the risk of losing investors’ money who are just helping our beneficiaries. They lend us money for hardly two months, without taking any interest, but NIIPAM acknowledges their service and provides them with naturally grown vegetables as a token of appreciation which is much more than the interest of their capital.
If you want to apply for loan facilities at NIIPAM finance, you may contact our representatives.
NIIPAM Loans are disbursed during May-June of every year and the last date for loan application is 28th February of each year.
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Loans at NIIPAM Finance
For Loan Amount: Rs 50,000
| Sl. No. | Items | Details |
| 1. | Loan amount | Rs. 50,000 |
| 2. | Easy Weekly Instalments (EWI) | Rs 5,000 |
| 3. | Duration | 10 Weeks |
| 4. | Subsidy | No Subsidy |
| 5. | Loan Processing Fee (refunded if the loan is not sanctioned after 6 months) | Rs 5,000 |
For Loan Amount: Rs 1,00,000
| Sl. No. | Items | Details |
| 1. | Loan amount | Rs. 1,00,000 |
| 2. | Easy Weekly Instalments (EWI) | Rs 6250 |
| 3. | Duration | 16 Weeks |
| 4. | Subsidy | No Subsidy |
| 5. | Loan Processing Fee (refunded if the loan is not sanctioned after 6 months) | Rs 10,000 |
Certain loans will have subsidies to support the entrepreneurs who will serve society. Please wait for those loans from NIIPAM Finance. We will update regularly in our website. Loans with subsidies will probably be available to beneficiaries in the years 2021, 2023, 2025, 2027, and 2029 respectively.
Finding a Loan provider might take 3-4 months after the 31st March. In case, the loan application is not accepted by our investors after waiting 6 (six) months, the processing fee will be refunded.
Document Required for Loan Approval
- Name
- Aadhaar Card Copy
- Email ID
- Contact Number
After getting approval for NIIPAN Finance Loan, a mutually consented legal entity will be signed between the loan beneficiary and representative of NIIPAM. This legal document will serve as an understanding between the beneficiary and NIIPAM to pay EWI on time, where a late fine of 5% will be incurred if EWI is not paid on the Installment Day. All legal actions are subject to the jurisdiction of Imphal West, Manipur.
NIIPAM is not a profit-making organization but, our goal is to alleviate poverty and support of few investors who trust our mission can serve people is providing these interest-free loans, without taking a single profit from their investments. We, at NIIPAM therefore hope that our beneficiaries understand the mission and support the organization to serve people for several years!