SKS CEO and Founder, Vikram Akula, recognized by Time Magazine as one of today's 100 most influential people 
       
   
   
       
 



 
 
 
February 23, 2006
SKS rolls out first individual loan product

Hyderabad – In response to a strong demand from its clients, SKS Microfinance has recently launched an individual loan product, Sanjeevini, targeted at microentreprenuers across India. This is the first time SKS has offered a product outside of their group, joint-liability program. During the pilot phase, SKS will be giving loans to existing clients that have been in the group system for at least one year, have demonstrated good credit discipline and require additional working capital for their businesses. Loan amounts range from Rs. 20,000 to Rs. 50,000, compared to the first term group loan amount of Rs. 10,000 and repayments are made monthly as opposed to weekly. After the successful completion of the pilot phase, SKS will roll out the product corporate wide and also invite non-clients to apply.

At present, loans have been disbursed to over 500 clients across 16 branches, corresponding to a total loan outstanding amount of Rs. 15,382,000 ($346,636). “In addition to geographic expansion throughout India, we are also looking to enhance our product portfolio and meet the total household credit demand of our clients,” said Rashmi Singh, SKS Manager in charge of Sanjeevini. “Sanjeevini is our first attempt at achieving this goal and we are extremely happy with the response so far.”

You can find more details about Sanjeevini here, http://www.sksindia.com/products.htm.
     
   

 
 
 

 
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