Livestock Loan
Made Simple
Description
Made for Undeserved
Category
Fintech Design
My Role
We as a group together did research methods on chart paper in classroom
Duration
1 month
The Team
Simplifying Loans and Livestock
Sales for Farmers
Simplifying Loans
and Livestock
Sales for Farmers
A Silent Crisis in Rural Areas
A Silent Crisis in Rural Areas
A Silent Crisis in
Rural Areas
Farmers struggle to secure loans due to
- poor credit history and face
- challenges linking bank accounts
to fintech platforms, often due to lack
of support and digital literacy.
The absence of a centralized marketplace also
forces them to sell livestock to
middlemen at unfair prices.
Farmers struggle to secure loans due to
- poor credit history and face
- challenges linking bank accounts
to fintech platforms, often due to lack of support and digital literacy.
The absence of a centralized marketplace also forces them to sell livestock to middlemen at unfair prices.
Reimagining Financial Access
A Simple Yet Powerful Idea
Reimagining Financial Access
A Simple Yet Powerful Idea
Reimagining Financial Access
A Simple Yet Powerful Idea
SMS-Based Loan Application Process
SMS-Based Loan Application Process
SMS-Based Loan Application Process
SMS-Based Loan Application Process
Financial services to those in rural areas
with limited access to smartphones and the internet
Financial services to those in rural areas with limited access to smartphones and the internet
Financial services to those in rural areas with limited access to smartphones and the internet
Financial services to
those in rural areas
with limited access to smartphones and the
internet
Virtual Haats
for a centralized marketplace
Virtual Haats
for a centralized marketplace
Virtual Haats
for a centralized marketplace
Virtual Haats
for a centralized
marketplace
But why through SMS ?
But why through SMS ?
The answer was hiding in plain sight: SMS.
The answer was hiding
in plain sight: SMS.
120M +
farmers in India
120M +
farmers in India
120M +
farmers in India
120M +
farmers in India
Basic mobile phones
Most rely on with SMS
Basic mobile phones
Most rely on with SMS
Basic mobile phones
Most rely on with SMS
Basic mobile phones
Most rely on with SMS
30M+
only have
smartphones
30M+
only have
smartphones
30M+
only have
smartphones
30M+
only have
smartphones
Journey Mapping:
Where It All Goes Wrong
Journey Mapping:
Where It All Goes Wrong
From Livestock farmers experience, we discovered:
Loan Application Nightmares ?
Rejected due to lack of credit history or collateral.
Turning to Informal Lenders ?
Faces sky-high interest rates and financial strain.
Loan Repayment Stress?
No flexibility, leading to financial insecurity.
Finding the Opportunities: What If We Could Change the Game?
Finding the Opportunities: What If We Could Change the Game?
Livestock Insurance
Digital platforms providing easy access to affordable insurance for livestock can mitigate risks,
Flexible repayment
Linked to agricultural cycles or livestock market prices, allowing farmers to adjust payments based on their income.
SMS-Based Loan Application Process
SMS-Based Loan Application Process
Virtual Haats
for a centralized marketplace
Financial services to those in rural areas
with limited access to smartphones and the internet
Market Study
Market Study
Around 85% of Indian farmers, including livestock owners, are smallholders with limited access to formal finance. The demand for livestock financing is expected to rise as farmers seek funds to expand and improve their livestock operations
Around 85% of Indian farmers, including livestock owners, are smallholders with limited access to formal finance. The demand for livestock financing is expected to rise as farmers seek funds to expand and improve their livestock operations
TAM SAM SOM
TAM SAM SOM
This plan targets India's rural market by using simple SMS technology to provide important services like loans and fair livestock sales. It will start small but grow through partnerships, local outreach, and building trust with farmers
This plan targets India's rural market by using simple SMS technology to provide important services like loans and fair livestock sales. It will start small but grow through partnerships, local outreach, and building trust with farmers
TAM
The total potential market for a Virtual Haat and SMS-based loan system would be the 150 million farmers across India, particularly the 120 million small and marginal farmers, as they struggle the most with accessing credit and fair prices.
TAM
The total potential market for a Virtual Haat and SMS-based loan system would be the 150 million farmers across India, particularly the 120 million small and marginal farmers, as they struggle the most with accessing credit and fair prices.
SAM
Approximately 50% of rural households are involved in livestock rearing. So, out of 84 million farmers, 42 million could directly benefit from
the Virtual Haat service.
SAM
Approximately 50% of rural households are involved in livestock rearing. So, out of 84 million farmers, 42 million could directly benefit from
the Virtual Haat service.
SOM
Realistically, if we partner with cooperatives, NGOs, and local banks initially in a few states, we could target around 5% of the SAM in the first 3 years. This would give a SOM of around 2 million farmers.
SOM
Realistically, if we partner with cooperatives, NGOs, and local banks initially in a few states, we could target around 5% of the SAM in the first 3 years. This would give a SOM of around 2 million farmers.
Our Solution
We designed
Step-by-step loan
application process
via SMS
with additional support through village kiosks for verification and cash disbursement.
A Gateway to Hope
We designed
Step-by-step loan
application process
via SMS
with additional support through village kiosks for verification and cash disbursement.
We designed
Step-by-step loan application process via SMS
with additional support through village kiosks for verification and cash disbursement.
A Gateway to Hope
SMS-Based Loan Application
We designed
Step-by-step loan
application process
via SMS
with additional support through village kiosks for verification and cash disbursement.
Information Architecture
Information
Architecture
Around 85% of Indian farmers, including livestock owners, are smallholders with limited access to formal finance. The demand for livestock financing is expected to rise as farmers seek funds to expand and improve their livestock operations
Around 85% of Indian farmers, including livestock owners, are smallholders with limited access
to formal finance. The demand for livestock financing is expected to rise as farmers seek funds to expand and improve their
livestock operations
01
01
Introduction & Loan Request
Introduction &
Loan Request
(यह संदेश तब भेजें जब लोन
के लिए आवेदन करना चाहे )
(यह संदेश तब भेजें जब लोन
के लिए आवेदन करना चाहे )
User sends an SMS: “LOAN 15000” to the designated number.
The system responds instantly, confirming eligibility and next steps.
User sends an SMS:
“LOAN 15000” to the designated number.
The system responds instantly, confirming eligibility and next steps.
02
02
No Credit? No Problem
We Have Loan Alternatives
No Credit? No Problem
We Have Loan Alternatives
(कोई क्रेडिट स्कोर नहीं? कोई समस्या
नहीं स्मार्ट ऋण विकल्प )
(कोई क्रेडिट स्कोर नहीं? कोई समस्या
नहीं स्मार्ट ऋण विकल्प )
If a farmer does not meet the standard requirements, the system
provides alternative options.
If a farmer does not meet the standard requirements, the
system provides alternative options.
If a farmer does not meet the standard requirements, the system provides alternative options.
03
03
Transparent Loan Decisions
Transparent Loan Decisions
(अब कोई उलझन नहीं, कोई अंदेशा नहीं –
पारदर्शी ऋण निर्णय )
(अब कोई उलझन नहीं, कोई अंदेशा नहीं –
पारदर्शी ऋण निर्णय )
Farmers receive instant SMS updates on their loan status. If denied, they get clear reasons and actionable next steps.
User sends an SMS: “LOAN 15000” to the designated number.
The system responds instantly, confirming eligibility and next steps.
04
04
No Credit? No Problem We Have
Loan Alternatives
No Credit? No Problem We Have
Loan Alternatives
(कोई क्रेडिट स्कोर नहीं? कोई समस्या नहीं स्मार्ट
ऋण विकल्प )
(कोई क्रेडिट स्कोर नहीं? कोई समस्या नहीं स्मार्ट
ऋण विकल्प )
If a farmer does not meet the standard requirements, the system
provides alternative options.
If a farmer does not meet the standard requirements, the system provides alternative options.
Our Screens
Introduction & Loan Request
Introduction &
Loan Request
The first step introduces the platform, ensuring user knows that loans are available.
The system immediately asks for the loan amount to move the process forward.
The first step introduces the platform, ensuring user knows that loans are available.
The system immediately asks for the loan amount to move the process forward.
Credit Verification
What If the farmer does not have credit for taking loan for animal husbandary
What If the farmer does not have credit for taking loan for animal husbandary
