In 2010, Bharet took over his father's rice business with the support of Seva MFI. In the past, Bharet’s production was financed by the rice millers who charge high interest rates and offer low prices for the product. By having Seva MFI loans from 2010 onwards, his revenues improved. Consequently Bharet has repaired his tractor and is now more optimistic about of the future of his family.
Bharet is requesting a new loan of SRD 12000 in order to grow more rice and increase his savings.
More information about this loan
This loan is part of Seva's effort to reach marginalized rice farmers who are excluded from Suriname's traditional banking system. This type of loan is designed to help agricultural entrepreneurs become self sustainable. This is especially important in Suriname, where microfinance is limited. These loans provide farmers with the opportunity to thrive in a country where rural and agricultural businesses are considered to be too risky for commercial loans.
About Seva Network FoundationStichting Seva Micro Finance Institute (Seva MFI) is an international organization that promotes entrepreneurship among poor and marginalized communities in developing countries. Seva MFI offers loans that enable farmers to purchase pesticides, fertilizer, farming tools and equipment to expand their farm plots and boost their incomes. In 2012, Seva MFI has disbursed over 650 loans to farmers in Suriname.
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Success!! The loan was 100% repaid