Shumaila, age 27, is a married woman. She had a difficult time after her husband’s business failure so she began stitching work in her house five years ago. She stitches for the people living around her house and uses the income to support her entire family.
However, due to lack of availability of funds she is unable to meet the daily demands of her customers. For this reason, she has borrowed PKR 30,000 from Kashf Foundation. She intends to use this loan amount to buy raw materials such as spools of threads along with packs of zippers, buttons and laces in various colors. It will help her to stitch more dresses on time. She is currently in her 3rd loan cycle with a good repayment history.
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.