Since 1992, Ashiq has been in the business of selling milk, which is the only source of income for the family. He has two buffaloes for this work. He sells their milk door to door and in the main market. By doing so, he generates income for fulfilling his family's needs. His current net income is not enough to cope with the daily and monthly needs of his family. He has lots and lots of expenses to pay for, such as electricity bills, gas and water bills, the children’s school fees, food expenses and also the buffaloes’ upkeep and their food expenses. So, he is planning to purchase one more buffalo to increase his selling.
Currently, he is interested in purchasing one more buffalo to grow his business, but he finds it difficult due to financial constraints. Ashiq has requested a loan from Kiva's partner, BRAC Pakistan. He will use the loan amount to purchase a buffalo. This will not only help him to increase his milk selling, but will increase his net income and savings as well. He hopes to provide quality education for his children. He is very thankful to Kiva and BRAC Pakistan.
Note: In the picture, Ashiq is standing with one of his buffaloes at the farm where he keeps the buffaloes.
More information about this loan
This loan is part of BRAC Pakistan's effort to provide credit to entrepreneurs seeking to expand their small businesses. These are individuals who have limited access to loans because their requests are too large for typical microfinance, and they lack the collateral to borrow from commercial banks. By funding this loan, you will enable a small business owner to provide new services and create new employment opportunities.
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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Success!! The loan was 100% repaid