Esther has a small store where she sells many different types of products for the home. She started her business by borrowing from informal lenders who charged very high interest rates. She is happy that she is now dealing with a financial institution after receiving her first loan with Kiva and MIFEX.
Once she had the money, Esther immediately began investing in many different products. She is now selling clothing and children’s toys from her store. These items have helped her increase profits substantially. She used part of the loan and part of the profits to improve her store as well. She has made her storefront about double the size it was before. She also paved the floor in her home and her store which were dirt before.
There has not only been a noticeable change in the physical appearance of Esther’s store, there has also been a change in Esther’s view about the future. She is now thinking bigger as she plans to begin selling domestic appliances from her store. Her daughter will start studying at the university in the next couple of months and she hopes she can continue to help her.
95View loans »