The company has conducted a successful pilot in Nandanvan branch in Nagpur where 3695 members have opted for loans worth Rs 4.5 crore since November, 2007.
In Maharashtra, the company started operations in July 2006 and currently has 86 branches across 23 districts. In all, two lakh women in Maharashtra have received collateral-free loans.
In Nagpur alone SKS has over 50,000 members. By March 2009, the company plans to extend operations in three new districts of Bhandara, Buldhana and Washim and add 52 new branches.
Announcing the company's growth plans for the State, KV Rao, Vice President, Member Services, SKS Microfinance, said, "In the coming year we will open 9 new urban microfinance branches in Nagpur and 12 in Pune".
