Growing Opportunity Finance

Gross Loan Portfolio USD, 2010: 6.4 million

Number of active borrowers 2010: 57,835

Average loan balance per borrower USD, 2010: 111.3

Deposits USD, 2010: 0.0

Assets USD, 2010: 9.0 million

Number of depositors 2010: 0

Address:

#12 Ramasamy Street First Floor T. Nagar

Chennai

Tamil Nadu

600 017

India

Phone:

+91-44-6528-4450

Email:

jreiff [at] opportunity [dot] net

Website:

www.gopportunity.net

Main Funding Sources:

Loans

Shareholder Capital

Products and Services:

Loans

Looking for (Investment Types):

Loans in Local Currency

Guarantees

Capacity Building Grants

Equity investments

% Operations Comprised by MF:

91 - 100

Date established:

Feb 16 2006

FYE:

31-Mar

Current Legal Status:

NBFI

Regulated:

yes

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Women	1
Clients living in rural areas	2
Clients living in urban areas	3
Adolescents and youth (below 18)	4
+ Development goals (ranked by importance)
Poverty reduction	1
Increased access to financial services	2
Gender equality and women's empowerment	3
Employment generation	4
Children's schooling	5
Health improvement	6
Growth of existing businesses	7
Housing	8
Water and sanitation	9
Development of start-up enterprises	10
Improvement of adult education	11
Youth opportunities	12
+ Poverty targets
Low income clients
+ Governance
Has trained members of its board on social performance management
+ Range of products and services
+ Financial products and services offered
+ Credit products offered
Microcredit loans for microenterprises
Loans for agriculture
Loans for education
+ Savings products offered
+ Compulsory insurance products required
Compulsory credit life insurance
+ Voluntary insurance products offered
+ Other financial products and services offered
+ Non-financial services offered
+ Enterprise services offered
+ Education services offered
Financial literacy education
+ Health services offered
+ Women's empowerment services offered
Leadership training for women
Women's rights education/gender issues training
Counseling/legal services for female victims of violence
+ Products and services targeting the poor
Products and services specifically designed to target the poor:
+ Social responsibility to clients
+ Client protection principles in use
The loan approval process requires evaluation of borrower repayment capacity and loan affordability. Loan approval does not rely solely on guarantees (whether peer guarantees, co-signers or collateral) as a substitute for good capacity analysis.
Internal audits check household debt exposure, lending practices that violate procedures including unauthorized re-financing, multiple borrowers or co-signers per household, and other practices that could increase indebtedness.
Prices, terms and conditions of all financial products are fully disclosed to the customer prior to sale, including interest charges, insurance premiums, minimum balances, all fees, penalties, linked products, third party fees, and whether these can change over time.
Staff is trained to communicate effectively with all customers, ensuring that they understand the product, the terms of the contract, their rights and obligations. Communications techniques address literacy limitations (e.g. reading contracts out loud, materials in local languages).
Acceptable and unacceptable debt collection practices are clearly spelled out in a code of ethics, book of staff rules or debt collection manual.
The organization's corporate culture values and rewards high standards of ethical behavior and customer service.
A mechanism to handle customer complaints is in place, has dedicated staff resources, and is actively used. (Suggestion boxes alone are generally not considered adequate.)
Customers know how their information will be used. Staff explains how data will be used and seeks permission for use.
+ Cost of services to clients
Declining balance interest method
+ Social responsibility to staff
+ Human resources
Protection at work (safety, anti-harassment)
Equality (anti-discrimination, equal pay for men and women with equivalent skill levels)
+ Basis of staff incentives related to social performance
Ability to attract new clients from target market
Outreach to women
Client retention/drop-out rate
Portfolio quality
+ Social responsibility to the environment
This institution raises clients' awareness about environmental impacts
This institution trains/educates clients regarding environmental improvements
+ Poverty measurement tools in use
Grameen Progress out of Poverty Index (PPI)

Partnerships

Current
Name	Relationship
MFIN	Network Affiliation
Oikocredit	Funding
Opportunity International	Network Affiliation

MFI Report

Growing Opportunity Finance

Select i

Social Performance Profile

Partnerships

At a glance

Contacts

MIX Market Data Updates

Share this Profile

Global Partners