MICROCAPITAL BRIEF: Indian Microfinance Institution (MFI) Sanchetna Financial Services Receives $320,000 from Oikocredit’s Maanaveeya Holdings and Investments, Ananya Finance for Inclusive Growth and Trust MicroFin Network (TMN)

In its July 2010 newsletter, the Indian microfinance institution (MFI) Sanchetna Financial Services reported that it will be receiving a loan of INR 10 million (USD 211,000) from Maanaveeya Holdings and Investments, the Indian subsidiary of the Dutch cooperative investment fund Oikocredit. In addition, Sanchetna will receive INR 3 million (USD 64,000) from the microfinance investment vehicle (MIV), Ananya Finance for Inclusive Growth, and INR 2 million (USD 43,000) from the nonprofit trust, Trust MicroFin Network (TMN).

While Sanchetna does not report to the MIX Market, the microfinance information clearinghouse, it claimed a gross loan portfolio of INR 30 million (USD 570,000) and 5,260 members as of July 2010.

About Sanchetna Financial Services:

Sanchetna Financial Services is a microfinance institution (MFI) in Lucknow, India. It provides retail financial services, wholesale lending to MFIs and business development services. The organization was founded in June 2008, and field operations started in October 2008 in Barabanki, Uttar Pradesh. Sanchetna claimed a gross loan portfolio of INR 30 million (USD 570,000) and 5,260 members as of July 2010.

About Oikocredit:

Oikocredit is a Dutch cooperative investment fund comprised of church groups, social support groups and individual investors. Established in 1975, it works in 70 countries worldwide, investing mainly in microfinance institutions (MFIs), as well as trade cooperatives, fair trade organizations and small and medium-sized enterprises (SMEs) in the developing world. As of year-end 2009 it had USD 665 million in total assets with 790 active investments, of which 543 were in MFIs.

About Anyana Finance for Inclusive Growth:

Anyana Finance for Inclusive Growth is a wholesale lender to 125 microfinance institutions (MFIs) with a portfolio size of INR 4.25 billion (USD 91 million). Anyana is promoted by Friends of Women’s World Banking (FWWB), a microfinance organization in India and network member of Women’s World Banking (WWB).

About Trust MicroFin Network:

Trust MicroFin Network (TMN) is a nonprofit trust promoted by a network of non-governmental organizations (NGOs) that work to alleviate the poverty of women in underdeveloped regions of India. TMN operates in Northern India, specifically in Uttar Pradesh, Bihar, Jharkhand, Uttarakhand and Rajasthan. As of 2005 TMN had received support from Small Industries Development Bank of India (SIDBI), Indian Bank and Sir Dorabji Tata Trust.

TMN does not report financial information to the MIX Market, the microfinance information clearinghouse.

By Matthew Fox, Research Associate

Sources and Additional Resources

Sanchetna Financial Services: July 2010 Newsletter: http://sanchetnaindia.com/wp-content/uploads/2010/06/July_Newsletter.pdf

MicroCapital Universe: Sanchetna Financial Services: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Sanchetna+Financial+Services

MicroCapital Universe: Oikocredit: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Oikocredit

MicroCapital Universe: Anyana Financial Services: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Anyana+Finance+for+Inclusive+Growth

MicroCapital Universe: Trust MicroFin Network (TMN): https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Trust+MicroFin+Network+(TMN)

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