SKS Microfinance to grant more loans to kirana stores this year

SKS Microfinance has decided to grant more loans this year to kirana stores. The company would extend loans to 15,000 ‘Sangam’ stores from the present 10,742 stores. A Sangam store is a kirana store run by an SKS borrower.

The company aims to enable Sangam store owners to buy goods from a wholesale vendor and then resell them in their retail kirana stores. SKS Micro has tied up with Metro Cash and Carry to facilitate delivery of goods to the kirana stores. This will enhance the volume of business done by the stores and meet the working capital needs of store owners.