SKS Microfinance empowers the poor to become economically self-reliant by providing financial services in a sustainable manner.
Launched in 1998, SKS Microfinance is one of the fastest growing microfinance organizations in the world, having provided over US $ 1.2 Billion (6,212 Crore) and has maintained loans outstanding of US$ 427 Million (Rs 2,216 Crore) in loans to 3,906,007 women members in poor regions of India. 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 new age businesses (Beauty Parlor to photography). SKS also offers interest-free loans for emergencies as well as life insurance to its members. Its NGO wing SKS foundation runs the Ultra Poor Program.
SKS currently has microfinance branches in 18 states across India. SKS aims to reach members 15,000,000 by 2012. In the last year alone, SKS Microfinance has achieved nearly 170 % growth, with 99% on-time repayment rate.