The research paper aims to depict the collective action of an SHG in a developing nation like India—an entrepreneurial mindset is fostered in rural areas through which sustainable growth and empowerment are achieved among women who are receiving financial assistance through an SHG-run society under the wings of an NGO named Prajna. The research paper is based on the qualitative analysis of the impact of the loans given to members of the SHG who are classified into 52 groups. A focused group study was done using empirical investigation to determine the impact of the financial assistance provided to rural women to start entrepreneurial ventures. The sample was selected based on 12 different segments of businesses that received financial aid through society. The research article shows the collective action of a Self-help group to foster an entrepreneurial mindset among rural women through the provision of Financial Assistance funded by society. The financial assistance provided to 154 women for activities that led to the start of businesses in the area of Catering, Tailoring, eateries, and agro-based products are discussed in the paper. The attainment of Sustainable Development Goals 5 and 8 of the United Nations through the SHG is discussed in the research article. An original case study with Quantitative and qualitative analysis depicting the impact of financial assistance provided by societies run by Self-help groups on rural women in DK district, Karnataka, India.