What is micro-LAP?
To provide the financial inclusion to the farmers Dvara E-Registry has launched the micro-LAP which stands for loan against property which is an asset backed credit to small and marginal farmers and all the other individuals or bodies associated with the agriculture value chain.
This is a means of providing farmers credit through formal credit lines which earlier were lagging for them which is also going to mark a shift from short term credit tenure to longer term which was also earlier absent in the sector.
How farmers can get micro-LAP and what are the benefits?
All the assets which are immovable and has the potential can be used by them to avail such benefits which otherwise were not providing them benefit earlier.
The credit which they will get will basically help them to expand their business and also help them to diversify their business which will ensure stability into their livelihood.
