He owns a scrap shop in which he deals with scrap iron goods. He purchases broken doors, windows, and all damaged iron accessories and sells them to a recycling factory. Sometimes he finds some repairable accessories and those products give him high resale value. Some customers sell their broken iron accessories and do not consider them repairable. Ishfaq repairs such types of accessories and resells them at high prices. In this way he gets high prices in his scrap dealing business. His main source of income is to sell and purchase scrap iron goods. He always keeps searching for houses under construction to buy scrap iron from ceilings, pulled doors and windows. Through this practice he can easily find repairable doors and windows for resale.
A few months ago his elder daughter was married and he spent a lot of money over her dowry. Recently, he found a house under construction and the owner is selling the iron goods, but he does not have sufficient amounts to buy the scrap iron. Therefore, Ishfaq requested a loan so that he could buy scrap iron and could make rapid increase in his income.
Ishfaq hopes that this loan will enhance his earning capacity so that he would be able to make more savings than earlier. Ishfaq seems very glad after taking this loan and says thank to Kiva and to its field partner BRAC Pakistan.
More information about this loan
BRAC Pakistan focuses its work in some of the most underdeveloped parts of Pakistan, characterized by poor infrastructure and high levels of poverty. By supporting this loan, you are enabling access to finance for borrowers living in some of Pakistan's poorest areas.
About BRAC PakistanBRAC Pakistan is a subsidiary of BRAC, one of the world’s largest development organizations with a focus on microfinance and economic empowerment. It offers micro-loans designed to help small businesses, very poor clients and others, in addition to health and education services. Kiva’s flexible, zero-interest capital will enable BRAC to expand its outreach in underserved regions and to women who have had no access to microfinance services.
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