Highlighting its phenomenal growth, one of the fastest growing MFIs in India, Satya MicroCapital has crossed several milestones since it was incepted three years ago. With a loan disbursement portfolio of Rs. 750 crores to its name, Satya has reached yet another milestone, having enabled more than 2.25 lakh unbanked and underserved entrepreneurs. The company is currently serving more than two lakh entrepreneurs with Rs. 500 crore worth of Assets under Management.
Headquartered in New Delhi, the microfinance institution began its operations in October 2016. The first credit disbursement by Satya was through its Sikandrabad branch in the Bulandshar district of Uttar Pradesh in November 2016. Since then, the MFI registered an impressive growth rate, having achieved an Assets under Management (AUM) value of over Rs. 500 crore within just two years of launching its operations.
With the primary goal of empowering rural women, both digitally and financially, the company has come a long way since its incorporation three years ago. A majority of the MFI’s portfolio comprises women entrepreneurs from rural and semi-urban areas whom Satya MicroCapital has aided with starting and developing their businesses. So far, Satya MicroCapital has established 81 branches in 81 districts across fourteen states (Assam, Bihar, Delhi, Chhattisgarh, Haryana, Himachal Pradesh, Jammu & Kashmir, Jharkhand, Odisha, Punjab, Rajasthan, Uttar Pradesh, Uttarakhand and West Bengal).
Commenting on the company’s success, Mr. Vivek Tiwari – MD & CEO, Satya MicroCapital Limited, said, “We started by reaching out to 1,000 entrepreneurs in our first 100 days, and have come a long way since, thanks to the development of a conducive digital financial ecosystem in the country. We are pleased to acknowledge that we have now offered loans to well over 2.25 lakh entrepreneurs. We believe that Satya’s advanced technology-based model supported by a cashless and paperless approach has been a great contributor to the success of our initiatives. Having come this far, we plan on keeping up the work of uplifting more and more people belonging to the unbanked segments, especially women who are looking to start or expand their businesses. Given our current momentum, I believe we are well on our way to achieve our goal of empowering more than 5 million households across both rural and urban markets by 2025.”
Keeping up with the post-demonetization tide, the company’s focus on lending using digital financial solutions to women entrepreneurs specially has also been well-received. In addition to extending financial support to unserved or underserved enterprises, Satya MicroCapital regularly partners with like-minded banking institutions to spread digital financial awareness in rural areas. As a result, Satya MicroCapital has processed over INR 50 crores worth of loan from All Female Branches so far, with a majority of the transactions being cashless.