27th March 2023, Gurugram – Aye Finance India’s leading fintech lender to the underserved population of micro enterprises has been providing non-financial services to these grass root businesses through its not for profit arm FAME (Foundation for Advancement of Micro Enterprises) since 2019. The Foundation has already brought about a transformative impact in the lives of over 45,000 unorganized businesses, 50% of which are women, by building their capabilities through the various interventions it runs for the Dairy, Kirana, Shoes Manufacturing and Sports Manufacturing sector.
FAME has chosen the mission of bridging the gap between the aspirations and opportunities available to this sector as supporting micro enterprises boosts progress on more than half of United Nations SDGs (Sustainable Development Goals). Its customised programs are not just building the skills but also generating and enhancing livelihood opportunities for the micro enterprises. Trainings on creating better quality goods, managing financial levers of the business, forward and backward linkages, product diversification have helped FAME beneficiaries improve production quality and levels, expand customer base and bring about efficiency in their operations.
Mr Brij Mohan, who has previously served as the Executive Director of SIDBI and is also referred to as the pioneer of micro finance in India, is the Chairperson of FAME and under his guidance the Foundation has been successfully building competencies of micro entrepreneurs
Commenting on the same, Sanjay Sharma, Managing Director of Aye Finance said, “While Aye has solved the funding challenges of micro entrepreneurs through its customised and affordable loan products, it is equally important to provide beyond financing support to ensure the holistic development of the sector. With that intent, we launched our own “not-for-profit” arm FAME to provide business and marketing management advisory and enhance livelihood of unorganized micro businesses in small towns. FAME runs multiple projects in over 150 villages in Uttar Pradesh, Rajasthan and Haryana for promoting and development of livelihoods, rural development and skill development. It gives me immense pride to see The Foundation having positively impacted the lives of over 45,000 micro entrepreneurs within a short span of four years and I am very optimistic of the difference our programs will make to this sector in the coming years”.