WeGrow
- Geography: West Bengal
- Causes: Education, Enterprise Development, Sanitation, Agriculture
- Partner since: Sep 24, 2020
- Type of Partnership (?): Comprehensive
About WeGrow
WeGrow Financial Services Private Limited (CIN U67120WB1989PTC047609) formerly Sarawgi Fiscal Services Pvt. Ltd. is an NBFC having its Registered Office at 13 Rishi Bankim Road, Nimta, Kolkata – 700049 and Corporate Office at AE 601, Sector -1, Salt Lake, Kolkata 700 064. The Company is registered with Reserve Bank of India having Registration No. B-05.03201 dated July 10, 2019. WeGrow works in the financial inclusion space providing microloans and promoting entrepreneurship amongst the vulnerable section of the society. Keeping this motto in mind, WeGrow’s Vision and Mission statement has been structured to reflect their values to carry along the way. Genesis of "WeGrow Financial Services Private Limited'' (formerly known as Sarawgi Fiscal Services Private Limited) is indebted to Belghoria Janakalyan Samity (BJS) which began its movement very modestly as NGO-MFI under the able leadership of its chief promoter Shri Bishwajit Das in the year 2006 for overall development of poor unbanked women through Micro-Finance route. Some Executive members of Society for Belghoria Janakalyan Samity (BJS) winning many of its employees acquired the SFSPL in the F.Y. 2016-17 exclusively for keep going with microfinance activities and made a well-conceived plan to separate them from BJS step by step to remain relevant with regulatory connotation of the present and future. On accomplishing the qualified assets criteria, the company has already submitted the application with RBI for reclassification of the company as NBFC-MFI. Earlier to it SFSPL has been rechristened as “WeGrow Financial Services Private Limited” on 26th June 2019 with the permission of RBI. However, the company is possessing high expectation of receiving RBI approval of MFI tag within next three to four months. BJS by now, spread across 6 districts covering both South and North Bengal in its long 13 years of existence with 27 branches. It champions itself as providing ethical microfinance to the poor, marginalized and underprivileged section of the society, especially women. It has a client base of 28,719 with a present portfolio of Rs.3,729.53 Lakhs (As on March’ 2020). While WeGrow has embarked on the voyage as an NBFC in the year 2019 taking the baton from BJS with same ethics and conviction for the cause of financially inclusive society keeping BJS committed to social development activities.
Total amount disbursed
Rs.61,326,000
Loans given
739
Repayment rate
3 %
