Spandana started its operations in 1998. Spandana started as an NGO, registered as a Society before being transformed into a Non-Banking Finance Company, regulated by the guidelines of Reserve Bank of India. Spandana provides micro-credit and credit-plus services to low-income households and individuals to improve their quality of life. Spandana services over 5 million clients across 172 disctricts of India.

Over the years, Spandana has grown at a CAGR of about 100% every year to reach out to over 2% of India’s total households as on Sep 2010. Spandana started as an NGO, registered as a Society and then transformed into a Non-Banking Finance Company, regulated by the guidelines of Reserve Bank of India. During the growth, Spandana has sustained its operational efficiencies (sub 6% OER) and profitability and portfolio quality (cumulative repayment rate of over 99.5%). Main challenge is to continue to develop more and more credit and credit plus products suitable to different customer sub-segments within the low-income segment. High degree of product diversification requires supporting business processes and robust technology – and offer these services at scale while not diluting controls and cost efficiencies.