SKS 온라인카지노 추천’S VIKRAM AKULA
From Knowledge at Wharton
Vikram Akula, founder and CEO of SKS 온라인카지노 추천, launched the company in 1998 to offer small loans to very poor borrowers. Some 10 years later, SKS has become India's fastest growing 온라인카지노 추천 institution (MFI), with more than 2 million borrowers. In the next two years, Akula would like SKS 온라인카지노 추천, whose backers include venture capitalists such as Sequoia Capital, to grow to 8 million borrowers -- which would make it the world's largest 온라인카지노 추천 lender, surpassing Bangladesh's Grameen Bank. In an interview with India Knowledge at Wharton, Akula speaks about 온라인카지노 추천.
KNOWLEDGE AT WHARTON: 온라인카지노 추천've spoken in the past about some of the constraints that face the world of microfinance. For example, lack of capital is always a problem. Lack of capacity is another major issue. And microfinance also has high transaction costs. What innovations has SKS has been able to bring about to tackle these issues?
온라인카지노 추천: We've done three things to deal with these problems that we think can overcome these constraints. The first is to use a for-profit model to overcome the constraints of capital. The second is to use best practices from the business world to overcome the constraints of capacity. And the third is to use technology to overcome the cost constraints.
Even though most microfinance institutions are non-profits, we believe that in fact, 온라인카지노 추천 have to structure things in a for-profit way. 온라인카지노 추천 have to pay investors high dividends, because otherwise there's no way 온라인카지노 추천're going to access the kind of capital that poor people need. As a result, we've structured SKS as a for-profit, and that's enabled us to tap into commercial capital and provide unlimited amounts of finance to the poor.
On the second dimension of capacity, if 온라인카지노 추천 look at most microfinance institutions, they're structured as NGOs. They're small, they think about a thousand clients, or maybe 10,000 clients. In contrast, a business thinks about millions or tens of millions of customers. We've looked at those types of companies and adopted the techniques that they've used within microfinance. That has given us an extremely fast growth rate.
Finally, when it comes to technology, we've developed an automated management information system because at the end of the day 온라인카지노 추천're doing millions of very tiny transactions. There's a high cost to doing that. Unless 온라인카지노 추천 use technology, 온라인카지노 추천'll never be able to bring down the transaction cost and to scale rapidly.
KNOWLEDGE AT WHARTON: I understand that SKS has raised funds from venture capitalists. When they invest in SKS microfinance, does that change their expectation of returns? Are they more "gentle" with 온라인카지노 추천 because 온라인카지노 추천 are lending to poor women, compared to if they were to lend to, say, a technology entrepreneur?
온라인카지노 추천: We certainly have social investors, who come at it with a double-bottom line approach of making a social impact as well as a for-profit impact. But we also have investors who have a pure commercial interest.
Many people think there's a dichotomy between the social purpose and the commercial purpose, but we actually don't think there's a dichotomy. If 온라인카지노 추천 do what's right by the borrowers, if 온라인카지노 추천 charge reasonable interest rates, provide good service, not only is that intrinsically the right thing to do, but that's the way to build a good business, especially when 온라인카지노 추천 are working with the base of the pyramid, because the base of the pyramid customer is extremely loyal. If they feel they are being exploited or taken advantage of, they will turn on 온라인카지노 추천 in a second. But if 온라인카지노 추천 treat them well, they will stay with 온라인카지노 추천. That becomes how to build a long-term healthy business. That's what our commercial investors want.
KNOWLEDGE AT WHARTON: Typically, what are the interest rates for 온라인카지노 추천 loans?
AKULA: We charge an average interest rate of 24 percent. That seems extraordinarily high, but let me put this in context. Informally the village money lender, the loan sharks, will charge anywhere from 50 percent to as high as 1,000 percent interest. So, we are charging much less than what they charge. I also submit that our interest rate is actually the lowest cost financing available to the poor. Even though a retail bank might charge, let's say, 12 percent, or a subsidized government loan might cost 7 percent, if 온라인카지노 추천 actually talk with borrowers and ask them how many trips they are making to a bank branch, what are the lost wages, the bus fares, the brokers fees, and sometimes bribes are paid to access that 7 percent loan, they actually end up paying much higher than 30 percent.
The poor are earning such high returns on their micro enterprises that they have no problem paying 24 percent if their returns are averaging 100 percent or so. I think the best way to tackle interest rates is competition. Certainly in some areas 온라인카지노 추천've got microfinance institutions (MFIs) that are trying to extract and charge high interest rates. Over time, 온라인카지노 추천 will see competition pulling that down.
KNOWLEDGE AT WHARTON: How many customers do 온라인카지노 추천 have, and who is 온라인카지노 추천r typical borrower?
AKULA: Currently we have 2 million customers spread across 25,000 villages in 15 states of India. The typical borrower, typical first loan is about 8,000 rupees or about 0. A woman might take a loan to buy a cow, and then sell the milk, and then repay the loan on a weekly basis. She might do a small village grocery; she might do vegetable vending or another type of trading activity. What we see is there's a very high return on investment, and each year she's eligible to take a larger loan. So even though 0 might seem relatively small, eventually we'd like to see borrowers moving into ,000 loans. Then 온라인카지노 추천 begin to see huge impacts in terms of poverty eradication.
15,000개의 아티클을 제대로 즐기는 방법
가입하면, 한 달 무료!
걱정마세요. 언제든 해지 가능합니다.
인기기사
회원 가입만 해도, 온라인카지노 추천 월정액 서비스 첫 달 무료!
15,000여 건의 온라인카지노 추천 콘텐츠를무제한으로 이용하세요.