Micro-meltdown

Vikram Akula founded SKS Microfinance with a clear mission: improve the lives of poor people in India by providing small loans. These small loans, used to start or expand businesses and generate earnings, were a proven path out of poverty for thousands around the world. But microfinance institutions were always set up as not-for-profits, so their ability to help was limited by the grants and donations they received. Vikram wasn't the first person to bring microfinance to India, but his idea was to do it at a previously unheard-of scale, for millions rather than thousands. He would do this by…