Social Performance Report: ECLOF India
Founded in 1964, ECLOF India is a small not-for-profit MFI. With headquarters in Chennai and eight branches across Tamil Nadu, 19 staff serve over 6000 clients.
ECLOF serves exclusively women, many of them from the lowest castes. Most clients engage in handicraft, farming and livestock keeping or petty trade. Loans and training from ECLOF help these women generate income for their families, which in turn raises their self-confidence, their social and economic inclusion.
In the Indian context, the risk of clients taking on too much debt is high, particularly in urban areas where many microfinance providers compete. To protect clients, ECLOF India applies rigid loan underwriting criteria, trains clients in financial literacy and encourages them to start a habit of saving.
In ECLOF India as a women-centric organization, women are represented at all levels of the institution. Most staff are women, so is the Managing Director. One board member is a woman client: she is the leader of a self-help group of 10 women and runs a Saree trade business.