Midland Microfin Limited (Midland) is a financial institution established in 2011, dedicated to providing financial services primarily to low-income women in rural areas. Midland secured USD 10 million from the GGSF, which constitutes 3.50% of their total portfolio and 6.50% of total refinancing. This funding is aimed at diversifying their loan products beyond micro-business loans into individual SME loans.
The GGSF facility allows Midland to offer longer maturity loans, accommodating extended repayment periods suitable for clients engaged in long-term projects. Introducing a 3-year loan product reduces pressure on Asset and Liability Management, enhancing financial stability and management of longer-term financing needs. Midland sought out GGSF due to shared goals of empowering women-led micro-enterprises and promoting financial inclusion. This partnership enhances Midland’s credibility, provides tailored support, and offers robust impact measurement tools that appeal to investors interested in social impact.
Midland operates through 434 branches across 13 states in India, with a strong rural coverage of 97%. Currently, all of Midland’s clients are women, comprising 100% of their customer base. 15% of these customers are new to credit, highlighting Midland’s role in providing initial financial access. The case of Harpal Kaur exemplifies Midland’s impact, where a small initial loan enabled significant business growth, leading to improved living standards and better educational opportunities for her family. Midland’s partnership with GGSF not only strengthens its financial structure and expands its service offerings but also reinforces its commitment to empowering women entrepreneurs and fostering economic development in rural India.
