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Current Portfolio |
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Spandana
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Promoter |
Ms. Padmaja Reddy |
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| Area of operation |
Andhra Pradesh, Karnataka, Tamil Nadu, Maharashtra, Orissa, Chattisgarh, Madhya Pradesh, Rajasthan |
| Model |
Group + Individual |
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About Spandana:
Spandana was founded in 1997 by Ms Padmaja Reddy. A chance encounter with a rag picker prompted Ms Reddy to start microfinance in the urban slums of Guntur. Since then Spandana’s microfinance programme has grown tremendously and the organisation is now one of the largest and most rapidly growing MFIs in India. Spandana is one of the most efficiently run MFIs in the world. |
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Mission:
Spandana envisions itself as a financially self-sustainable Microfinance Institution with a wide base of ownership. It is committed to strengthening the socio-economic status of low income households particularly women in rural and urban areas by providing financial services on a continual basis for improving livelihoods, establishing identity and self-image. It constantly endeavors to deliver efficient services to its clients and remunerative returns to its investors by adopting cost effective methods and by creating a culture of competence and excellence. Spandana believes and aims to prove that microfinance is more than charity/social work; it is not about giving handouts to needy women, but a viable, sustainable business proposition that provides women with the tools they can use themselves to better their situations on a continual basis.
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