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He reckons that SKS should be doing more microfinance and doing it fast.
More and more microfinance institutions are tapping conventional capital markets through securitisation, arranged by banks such as Citigroup, and even share offerings.
But Richard Webb, one of the authors of the study and a former governor of Peru's central bank, cautions that there is no clear evidence that more microfinance means less poverty, or that it automatically brings borrowers into the formal economy.
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Joohwan Cheon, Executive Director of PATRA, a Chinese microcredit non-governmental organization (NGO) run by Mercy Corps and operating in Jilin province, close to the North Korean border, agrees that regulations need to be clarified and more microfinance-friendly policies adopted.
While the above speaks of steps being made towards a more responsible microfinance, there is also the area of wider effects of access to credit to explore.
The concept, Counts explained, is to "graduate" these beggars into the more traditional microfinance program.
The sharing economy will not solve today's global economic woes, no more than microfinance can (not) single-handedly solve global poverty alleviation.
Kiva Zip's Trustee-based structure facilitates a focus on the more traditional microfinance client demographic: older generations and residents of rural areas, who do not necessarily use the internet themselves.
However, their own research, which is often pegged as "debunking" microfinance, more accurately shows that its benefits are more modest (and less uniform microfinance doesn't work for everyone) than some suppose but not non-existent.
No one has done more to inspire microfinance globally than the Nobel laureate Muhammad Yunus, but when he condemns commercial microfinance, I believe that he is making a mistake ("Sacrificing Microcredit for Megaprofits," Op-Ed, Jan . 15.
That single award did more to legitimize microfinance on a world stage than anything else.
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