Mission :
To provide finance to the poor in a sustainable manner
Overview:
SKS Microfinance (SKS) is one of the leading providers of
microfinance in India. Founded in 1997, SKS has delivered
$40 million in microfinance to over to 150,000 women clients
in one of the poorest parts of Southern India. In the last
year alone, SKS grew by nearly 300% and has a current
portfolio of $15 million with a 99% on-time repayment rate.
At present, SKS has over 45 branches and 500 employees and
is expanding rapidly in Andhra Pradesh, Karnataka,
Maharashtra, Orissa and Madhya Pradesh. At the current pace,
SKS will reach its goal of 1,000,000 clients by 2010.
In addition to rapid expansion, SKS leads the industry in
technology development and innovation. It is one of the
first microfinance institutions (MFI) to have a
fully-automated management information system (MIS) and also
pioneered the use of Smart-Card technology at the
village-level. SKS is currently working with VISA
International on a pilot project to develop and deploy
wireless POS devices that would automate field operations
and significantly reduce transaction costs. Through this,
and other innovative projects, SKS is aggressively looking
for additional ways to reach the underserved population in
India while remaining economically self-sufficient.
SKS has received numerous
awards including the CGAP Pro-Poor
Innovation Award, Grameen Foundation USA�s Excellence Award,
the ABN-AMRO/Planet Finance Process Excellence Award and the
Digital Partners SEL Award. SKS was also a finalist for the
Berkeley Haas School Social Venture Competition and the
Stockholm Challenge. SKS is the only MFI in India to receive
the MIX transparency certification and to be finalist in
CGAP�s worldwide transparency competition. SKS was selected
by Unitus as the most promising microfinance organization in
India and Unitus, Vinod Khosla (Founding CEO of Sun
Microsystems), and others have invested in SKS.