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March 31, 2006 |
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SKS Microfinance Reaches New Heights, Providing Loans to 200,000
Members and Insuring 500,000 Lives
Hyderabad, India � SKS
Microfinance Pvt Ltd. is pleased to announce that it is officially
offering financial services to more than 200,000 clients, and
insuring 500,000 lives, in over 80 branches in the states of Andhra
Pradesh, Maharashtra, Karnataka, Orissa and Madhya Pradesh.
SKS offers loan products to members that allow for investment in
income-generating and small enterprise activities. SKS life
insurance policies allow a client�s family to be protected from the
unfortunate circumstance of death; when a member or member�s husband
perishes, the remaining spouse is no longer responsible for the
repayment of the loan. The full loan amount and interest is
immediately written off and any past repayments are paid back to the
family, allowing the grieving process to continue without the worry
of financial burden.
Regarding this recent milestone, CEO and Founder, Vikram Akula,
remarked, �these accomplishments mark a significant point in SKS
outreach efforts. As we continue to pursue our ambitious goal of �7
and 7�, 700,000 clients by 2007, we hope to continue providing
quality service to our members. Today, it is now feasible for more
than 200,000 members to take out loans and, in parallel, clients and
their families are being safeguarded from the worry of financial
strain due to death in a family. These loans and policies truly
serve as vehicles for greater economic freedom for SKS clients and
their families.�
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