Adding to basket
Bimlaben is the featured borrower of this group. She started her own tailoring microenterprise so she could provide her children a better education than the primary schooling she has had. She has two teenaged children, and supports her family of five with the income she earns by sewing clothes like dresses, shirts, and putting together falls and interlocks on saris. Her small business brings in Rs. 5700 a month (~$95), and she diligently saves most of this, running her home supported by the income her husband brings in.
Aware that these savings will be insufficient, she is working to increase her tailoring business’s earning potential. To improve her productivity and take on more customers, she wants to buy a new and better sewing machine. She expects this will bring in extra business worth Rs. 8000 a month (~$130).
To put this plan into action, Bimlaben needs access to funds. Banks do not cater to rural small business owners like her. So, under the guidance of the non-profit Prayas and Milaap, she has formed a group with Shilpaben, Kakuben, Linaben, and Kaliben, who run petty shops and a provisional store respectively. With this loan, Shilpaben and Kakuben will add products like garlic, chips, and snacks to their inventory. Kaliben will start selling in her provisional store products like Vaseline, sugar, oil, ghee (clarified butter), and incense. These items have a higher unit cost and have a high consumption rate, which will boost their profits.
Together with her group, Bimlaben hopes to crowdfund the microfinance they need to develop their respective businesses. They seek a loan amounting to Rs. 35,000. Your loan will empower Bimlaben and her group to increase their incomes by up to 50%.
Bimlaben, like her group members, will use this significant boost in her savings to educate her children, invest in the further growth of her microenterprise, and repay your loan in 12 monthly installments.
In this group: Linaben, Shilpaben, Bimlaben, Kaliben, Kakuben
