Belstar delivers micro-finance solutions that mobilise women in poverty to achieve business and savings partnerships. The company uses a self help group model where women collaborate together as well as a joint liability group model where Belstar lends to an individual based upon a group guarantee. As of February 2016, Belstar serves 186,220 female borrowers, enjoying a successful 99.95% collection rate.
The company impacts capacity and skills building throughout its process, establishing socio-economic progress for its previously unserved customers. Over the next three years, Belstar will work toward serving more women in poverty by expanding to the Northern Indian states.
Goodwell invested in Belstar in part due to the company’s industrious self help group (SHG) investment model, which provides clients with the agency necessary to make financial decisions. As part of its investment, Goodwell aided Belstar in its transformation from a non-profit into an MFI and was invited to participate as a local partner.