Suryoday Micro Finance Pvt Ltd is a registered Non-Banking Finance Company, engaged in providing loans to women from Economically Weaker Sections, Below Poverty Line and the Marginal Poor who do not have access to traditional banking, with an objective to reduce poverty in its area of operation.

Suryoday, the sanskrit word for sunrise, signifies the dawn of a new beginning. We believe that this word encompasses our objective of giving an impetus to the economically disadvantaged women to make a fresh start by utilising our loans for income generating activities and enabling sustainable socio-economic progress.

Milestones

Jan-Dec 2008:

• Incorporated in Nov 2008 under the Companies Act with Registered Office in Chennai

Jan-Dec 2009:

• RBI License For NBFC Operations
• Private Equity Funding Agreement with Aavishkaar Goodwell
• CRISIL Grading of mfR5
• 10 Branches across Pune and Solapur in MH; Chitttoor in AP
• Cumulative Disbursement of Rs  15+ Crores, POS of Rs 11 Crores with 15000+ Active Customers

Jan-Dec 2010:

• Launch of Second Cycle Loan Products
• Series B Funding of Rs 21 Crores with investments from Aavishkar Goodwell and Lok Capital
• Upgrade in CRISIL Grading to mfR4
• 31 Branches across Pune, Solapur, Mumbai and Kolhapur in MH; Bhubaneswar in OR; Chitttoor in AP; Salem and Trichy in TN
• Cumulative Disbursement of Rs 106+ Crores, POS of Rs 52 Crores with 80000+ Active Customers

Jan-Dec 2011:

• New Products Launched - Monthly/Fortnightly Repayments
• CRISIL Grading of mfR4 retained
• Cumulative Disbursement of Rs 220+ Crores, POS of Rs 81~ Crores with 90000+ Active Customers

Jan-May 2012:

• Cumulative Disbursement of Rs 265+ Crores, POS of Rs 95~ Crores with 106000+ Active Customers