Riaz is a 47-year-old vigorous, married woman. She is a mother of three children. Riaz has had a business of thread making for the past five years. She is passionate about her work, and client demand for her products is strong. But business challenges, combined with family expenditures, frustrate her nearly every day. Her husband works, but he does not earn enough to support his family well. Riaz is the best earning resource in her household.
Riaz wants to grow her business so she contacted Kashf Foundation and applied for a loan of PKR 20,000 to buy raw materials such as bundles of wool and cotton threads in different colors to meet the increasing demand for her products. She has been associated with Kashf for two years and has a good repayment history. Riaz shared her dream of running a training center for girls in her village. She would teach them thread-making skills so that they can help her expand her business and also earn money for themselves.
About Kashf Foundation
Kashf Foundation is one of the leading microfinance providers in Pakistan, focused on expanding financial access for poor women across the country. The organization’s economic empowerment program has grown from 913 clients in 1999 to 284,653 clients as of May 2012, with a current outstanding portfolio of US$32 million.
Kashf has trained over 227,000 clients in basic financial literacy and systemized financial education since 2010, in addition to providing training in gender justice and empowerment to over 12,500 participants since 2011. This group includes clients, their husbands and adolescent boys in their communities.
Over the past 16 years, Kashf has disbursed an estimated 2 million loans. Today, it operates in 16 districts in Punjab province and 1 district in Sindh province through a network of 157 branches. It plans to open 19 new branches to cover all four of Pakistan’s provinces.