Eligibility Criteria
Applicant MFIs should meet the following eligibility criteria to apply for loan from First Microfinance Laghubitta Bittiya Sanstha Ltd:
- Have been in operation since last 3 year with regular and timely statutory audit.
- Obtained license or legal status for microfinance operations in Nepal.
- Serving at least 250 microcredit borrowers.
- Be operationally self-sufficient or demonstrate a clear plan/trend to achieve operational sustainability.
- Have been complying with applicable standard principles & practices.
- Have minimum net-worth of NRs. 2,000,000 and financial resources of NRs. 20,000,000.
- Maintain portfolio-at-risk below 10% and adequate loan loss provision.
- Adequate policies and procedures are adopted and implemented.
- Appropriate Accounting and Management Information System (MIS) is in place.
- Active, experienced, dynamic and professional management team and management committee.
- Others terms and conditions as per First Microfinance Laghubitta Bittiya Sanstha Ltd rules
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