Annapurna Microfinance is a non-banking financial institution that provides credit and insurance to only female entrepreneurs in rural and urban areas in Eastern and Central India. Annapurna Microfinance uses the group lending model which encourages women to partake in joint liability; not only holding each other accountable to the loan repayment, but also to generating success within their individual businesses.
By providing financial and non-financial services, such as guidance to running a business in addition to credit support, women are given the opportunity to improve their socio-economic well-being. As of 31 December 2015, Annapurna Microfinance has 488,014 loan clients, with a gross loan portfolio of almost USD 100 million.
A loan had been previously provided by the Hivos-Triodos Fund. The financing from Triodos Microfinance Fund and Triodos Fair Share Fund aims to grow Annapurna’s agricultural activities and to assist the institution in developing the agricultural product offering.
KEY INDICATORS as of 31 December 2015:
- Number of loan clients: 488,014
- Percentage female clients: 100%
- Percentage rural clients: 85%
- Average loan amount: EUR 183
- Number of savings clients: -