The State Bank of India (SBI), a nationalized commercial bank, has provided an INR 200 crore loan, the equivalent of over USD 43.9 million, to SHARE Microfin Limited, a microfinance institution (MFI) based in Hyderabad, India. The loan is a term loan, meaning it has a specified repayment schedule and a floating interest rate. Detailed loan terms, however, have not been made public. It will be on-lent to low-income women in the regions of Chhattisgarh, Madhya Pradesh, Maharashtra, Karnataka, Tamil Nadu and Andhra Pradesh. SBI also plans to provide SHARE with integrated cash management services.
By Christopher Maggio, Research Assistant
About
SHARE Microfin Limited
Description:
SHARE Microfin Limited is a microfinance institution (MFI) based in Hyderabad, India. It began operations in 1989 as a nonprofit. It has been a non-bank financial institution since 2000. It offers loans primarily to women as well as training and consulting. As of December 31, 2009, it has a gross loan portfolio of USD 353 million with 933 branches and over 2.4 million members.
Contact
Address:
1-224/58, Rajeev Nagar Nacharam
Hyderabad
Andhra Pradesh
500 076
India
Phone: 91 40 2715 8184
Fax: 91 40 715 8225
Email: sml@sharemicrofin.com
Additional Resources:
Financial Express article entitled ‘SBI sanctions Rs 200 crore to Share Microfin’: http://www.financialexpress.com/news/Quick-View/594152/
MicroCapital’s Microfinance Universe profile: SHARE Microfin Limited
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