Sonata Finance (Sonata), founded in 2006, is a credit-only microfinance institution that operates in the northern states of India. Sonata offers mainly group loans to women living in rural areas. In addition, the institution offers remittance services. Sonata's mission is to contribute to the socio-economic development of poor families. Around 85% of its customers earn below two US dollars a day.
Triodos Fair Share Fund and Triodos Microfinance Fund hold an equity stake in Sonata, thereby sharing sustainable banking knowledge and expertise and participating in Sonata’s governance and strategic development.
KEY INDICATORS as of 31 December 2016:
- number of loan clients: 669,056
- percentage female clients: 100%
- percentage rural clients: 67%
- average loan amount: EUR 226
- number of savings clients: -
Whoever you are, and wherever you live in the world, you are likely to want permanent access to financial services. Microfinance banks play a crucial role providing access to finance to an increasing number of people living on low-incomes. We finance microfinance institutions because they help to build inclusive financial sectors, where the majority of people have access to financial services, leading to a sustainable basis for balanced social and economic development.