He is a dedicated rice farmer, but during off seasons he cultivates other agricultural produce, such as bananas and watermelons (for extra income). Together with his wife they are working and saving for their future and for the education of their children.
With the support of Seva MFI, Parmanand bought a pick-up truck to transport his harvested crops (and those of his colleague farmers) to the mills. Meanwhile Parmanand fully repaid that loan, as per plan.
He needs a new loan of SRD 10,000 to purchase fertilizer and pesticides for his rice production.
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