This study documents Credit Indemnity’s process of transformation. Credit Indemnity started as a small, short-term lender that commenced operations more than a decade before the rest of the South African micro lending industry really started. Today they are part of a listed company and operate on a cash loan and repayment basis out of 118 branches covering the whole country. This study documents the process, its success and hurdles, through the eyes of its management, staff, clients and other stakeholders in the financial industry. It also identifies areas in which the organization needs to improve.