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Mimo Finance

Mimo Finance. Empowering Women, Changing Lives. About Mimo. Products. Field Processes. The Way Forward. About Mimo Finance. Vision: To reach one million households in India by March 2015 Mission:

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Mimo Finance

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  1. Mimo Finance Empowering Women, Changing Lives

  2. About Mimo Products Field Processes The Way Forward

  3. About Mimo Finance Vision: To reach one million households in India by March 2015 Mission: To strengthen the economic capacity of urban and rural micro and small business operators to ensure their economic self-reliance. Values: Integrity, Transparency, Accountability 21 Branches 47,728 loan clients 106,198 Insurance clients 219 Employees Uttarakhand Dehradun, Haridwar Uttar Pradesh Saharanpur, Meerut Bijnor Himachal Pradesh Sirmour Haryana Yamuna Nagar

  4. Area of Operation Dehradun (U.K) Sirmour (H.P) Haridwar(U.K) Yamunanagar(Haryana) Bijnor (U.P) Meerut(U.P) Saharanpur (U.P) Mimo Finance Operation

  5. Board of Directors 1. Manab Chakraborty ex-UN civil servant, management expert 2. Venkatram Reddy Reddypally Bellwether Fund representative 3. Swaminathan A. Aiyar Eminent economic journalist 4. P. Murali Srinivas Mgt. Consultant and Entrepreneur 5. Sitaram Rao Ex-CEO SKS, Hyderabad 6. A. Ramanathan ex-CGM Microfinance NABARD • Promoter/CEO • Director • Angel Investor • Angel Investor/COO • Independent Director • Independent Director

  6. History • Mimo Finance acquired a Non-Banking Finance Corporation (NBFC) in March 2007 and commenced operations. • Shareholders: Bellwether Microfinance Fund as Venture Capitalist and three Angel Investors. • Financial relationships have been established with FWWB, HDFC, ABN-Amro, Axis Bank, Maanaveeya- Oikocredit, Uttarakhand Govt., DCB, SIDBI, NABARD, Reliance Capital, Citibank, and Indian Bank. • In July 2008, the institution was awarded a rating by CRISIL of MF4 (1-8 scale), placing it in 20% of all MFIs.

  7. Organogram by Functions

  8. Operational Highlights (May 2009)

  9. Clients Profile

  10. Loan Utilization Purposes

  11. Performance Indicators (May 2009)

  12. Loan Outstanding (May 2009, in Rs. Million)

  13. Capital Structure

  14. Products About Mimo Products Field Processes The way forward

  15. JLG Loans • 5 women in a Group • No collateral • Loans for Income-generating activities • Selection criteria • Identity/residency proof, solidarity and coherence of members, track records of applicants, compulsory training and Group recognition test. • 50 week loan term. • Loan range: Up to Rs. 10,000 • Interest: Flat 15% • Loan processing fee: Flat 3%

  16. Micro-enterprise Loans Individual lending Collateral: Machinery & Raw material Guarantor: One Selection criteria Identity/residency proof, business performance, track records of applicants, compulsory financial literacy & book keeping training. Term: Up to 2 years, repayment monthly. Loans range: Up to 50,000 Interest: Flat 15% Loan processing fee: Flat 3%

  17. Home Improvement Loans 3 women in a Group No collateral Loans for renting purposes Selection criteria Identity/residency proof, solidarity and coherence of members, track records of applicants, compulsory training and recognition test. Term: Up to 2 years, repayment monthly Loans range: Up to Rs. 35,000 Interest: Flat 15% Loan processing fee: Flat 2%

  18. Max Vijay - Gullak (Pilot) SAVINGS Long term planning 7.5% to 8% return Can top-up with as less as Rs 10 24/7 - next door service by Mimo Retail Agents 10 year term INSURANCE Natural death: Up to 5 times Accidental death: Up to 10 times No renewal premium concept No lapsation concept 10 year term

  19. Field Processes About Mimo Loan Products Field Processes The way forward

  20. Field operations - Structure Regional Office Spoke Office Head Office Hub Office Center JLG • One per 9 hub offices • Operations Monitoring • Internal Quality Control • FE recruitment • Accounting and MIS • Audit • Manages 6 spoke offices • Accounting • MIS • 2500+ clients per office • Group formation • Disbursement • Collection • 5 Groups to a Center • 5 clients to a Group

  21. Group formation

  22. Compulsory Group Training (CGT)

  23. Group Recognition Test(GRT)

  24. Disbursement

  25. Center Meeting - Repayments

  26. The Way Forward About Mimo Loan Products Field Processes The Way Forward

  27. Future Expansion Poverty levels Operation Area Target “graduates” and non-borrowers Target vulnerable single-women households Products Target vulnerable single-women households Expand into underserved geographies Lower middle class Poor Nepal, Punjab , J&K MP, Chattisgarh, Assam Very Poor Uttarakhand, UP, HP, Haryana Credit Insurance Micro Pension Micro Equity

  28. Projections for Mar 2009-2012

  29. New Fund Requirements (Rs. Million)

  30. Challenges • Debt Financing • Competition • Improvements in accounting and MIS software • HR: Find skilled staff, train and keep them; develop right incentives • Quality and Impact Control • Complement microfinance with health and education interventions

  31. Presence of Other MFIs in Operational Area XXX-High Threat XX-Moderate Threat X-Low Threat ()-Not Present

  32. Non-Financial Services

  33. More Information www.mimofin.com www.mixmarket.org www.vimeo.com/3294309 Mimoza Enterprises Finance Pvt Ltd #3, Turner Road, Clement Town, Dehradun - 248002, India info@mimofin.net

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