Grameen Foundation : Where we work : South Asia : India : SHARE
SHARE Microfin Limited
| Status snapshot as of December 2007 | |
| Active clients | 984,536 |
| Loan portfolio (USD) | $120,447,402 |
| Portfolio At Risk >30 days* | 3.5% |
| * Value of all loans outstanding that have one or more installments past due more than 30 days | |
Established in 1991 by its Founder Chairman and Managing Director M.Udaia Kumar, SHARE Microfin Limited is based in Andhra Pradesh, India. SHARE extends small loans to the poorest women in rural areas for income-generating self-employment projects, allowing them to care for themselves and their families. Its programs include extending loans, training, and consulting. Grameen Foundation has been providing funding and technical expertise to SHARE since 2000.
In addition to providing microfinance services to its clients using Grameen Bank methodology, SHARE also provides awareness in areas such as child education, health, nutrition, non-formal education, adult literacy and sanitation.
Outreach:
SHARE has experienced rapid growth since its transformation to a regulated financial institution in 1999. It has grown from eight branches and 8,136 clients in March 2000 to 307 branches and 841,211 clients as of June 30, 2006 and presently SHARE has 984,536 client, making it one of the largest MFIs in the world. Cumulatively, the organization has loaned its clients more than $256 million since its inception. SHARE plans to reach out to 1.8 million households by March 2010.
The first-year results of a three-year impact study conducted by the Institute of Development Studies, United Kingdom, in association with three universities in UK- Bath, Sheffield and Sussex during the period from 2001 to 2004, indicated that three out of four (76.8 percent) of SML’s mature clients have experienced significant reduction in their poverty over the past four years, and half of these are no longer poor. Sixty-four percent of these mature clients of SML had been very poor when they began taking SML microfinance loans three to four years ago, while the remaining 36 percent had been moderately poor.
Grameen Foundation support:
Grameen Foundation has provided $647,000 to SHARE, which has been used for loans and leveraging purposes (leveraging more than $5 million from commercial banks). In January 2004, SHARE completed a groundbreaking microfinance portfolio buyout deal - the largest of its kind in the world - with ICICI Bank, India’s largest commercial bank. ICICI Bank purchased $4.3 million of SHARE’s outstanding loan portfolio and subsequently resold it to another private bank. Grameen Foundation provided $325,000 in guarantee funds to facilitate this transaction, leveraging the funds 12 times for SHARE.
Learn more at: www.sharemicrofin.com
Grameen Foundation : Where we work : South Asia : India : SHARE
Grameen Foundation uses microfinance and innovative technology to fight global poverty and bring opportunities to the world's poorest people. With tiny loans and financial services, we help the poor, mostly women, start businesses and escape poverty. Our global network of 55 microfinance institution (MFI) partners including our Growth Guarantee partners has touched more than 34 million people in 24 countries. In addition, we introduced and now sustain technology initiatives (Mifos and Village Phone) in Cameroon, Kenya, Rwanda, and Uganda, bringing our total country outreach to 28.
+1-202-628-3560 www.grameenfoundation.org
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