In order to take good care of his family, he needed to earn more income; that’s why he increased his rice areas with the support of Seva MFI. He has already repaid the money he borrowed from Seva MFI.
Satiesh recently inherited a residential plot from his grandfather and wants to build a house on it through the profits from his rice production. He asked Seva MFI to support his rice production and applied for a loan of SRD 8,000 to purchase fertilizers and pesticides.
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