Our purpose is to eradicate poverty. We do that by providing financial services to the poor and by using our channel to provide goods and services that the poor need.
Background and Main Challenges:
Launched in 1998, SKS Microfinance is one of the fastest-growing microfinance organizations in the world. SKS currently has US$698 million (Sept’09) worth of outstanding loans to 5.3 million (Sept’09) women members in poor regions of India who maintain on-time repayment rates of 99%. It has ... Read more
Launched in 1998, SKS Microfinance is one of the fastest-growing microfinance organizations in the world. SKS currently has US$698 million (Sept’09) worth of outstanding loans to 5.3 million (Sept’09) women members in poor regions of India who maintain on-time repayment rates of 99%. It has provided over US $ 2 billion in micro-loans since inception. Borrowers take loans for a range of income-generating activities, including livestock, agriculture, trade (such as vegetable vending), production (from basket weaving to pottery) and services (tailoring to haircutting). SKS also offers interest-free loans for emergencies as well as life insurance to its members. Its non-profit SKS Foundation runs the Ultra Poor Program, which provides grants and social services to those too destitute to handle loans. SKS is based in Hyderabad and currently has 1,627 microfinance branches in 19 states across India (Sept’09). SKS charges an annual effective interest rate ranging from 26.7% to 31.4% for core loan products i.e. Income generation and mid term loans, which constitute 98.4% of SKS's total loan portfolio.
Note: Please note that the portfolio data mentioned in Mix market doesn’t include our assinged loan portfolio figure for all purposes for the period 1st April’2008 – 31st March’2009. Hide
Address:
1-10-60 to 62, Ashok Raghupati Chambers, Opp. Shopper Stop, Begumpet
All the products viz, Income Generation Loan, Mid-Term Loan, Mobile Loans, Sangam Store Loans, Housing Loans and Life Insurance service are designed to serve the poor.
MFI Report
