|Name||Suryoday Micro Finance Pvt Ltd|
|Region of operation||Gujrat, Karnataka, Mahrashtra, Odisha, Rajasthan, Tamil Nadu, Madhya Pradesh|
|Headquarters address||1101 Sharda Terraces Plot 65 Sector 11 CBD Belapur Navi Mumbai Country: India Zip: 400614|
|Social media links|
|Target problem||Suryoday Micro Finance Pvt Ltd is focused on micro finance and training poor women in our geographical area of Operations for enhancing their income levels and enable them build assets to improve their quality of living on a long term basis.Our team believes that the benefits accruing to our customers will percolate faster to other poor segments in a faster manner.|
|Key product / Service||Micro-Finance Loans|
|Number of beneficiaries||540000|
|Awards and recognition||
|Funding round||Series A|
|Total funding raised||$ 6270000|
|Business details|| Operating Model:
1) Each branch in Suryoday is headed by a Branch Manager (BM) who supervises 5 Relationship Officers (ROs). 2) An RO assists in group formation by holding a meeting with potential customers to introduce them to Suryoday’s products and policies, as well as features of the JLG model of microfinance. 3) Once the group is formed, 3 days Continuous Group Training (CGT) is conducted. 4) Group recognition test (GRT) is conducted by the BM after completion of CGT. 5) After a successful GRT, the loan documents of the approved clients are sent to the Credit Department.
Future Plans: To be a world-class financial services organisation that provides products and value-added services to the economically challenged, helping them generate higher incomes, build an asset base and achieve a sustainably better standard of living.To cater to one million households by the year 2016.
|Partners and key clients||Kotak, Dhanlaxmi Bank, Indian Overseas Bank, HDFC Bank, Axis Bank, IDBI Bank, SIDBI, Oiko Credit, State Bank of india, Bellweather Microfinance Fund|
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