Hemlata was a skilled
weaver of handmade Jamdari saree, which she learned from her father. It was the
only sole source of income for the family. The sarees she made were extremely popular
in the nearby markets because of their rich designs created on the loom using
the discontinuous weft technique.
Despite having the
required skill and knowledge, she was facing trouble running her business due
to a lack of adequate capital. The income generated from her loom was barely
enough to make ends meet. Also, it jeopardised the education of her two teenage
daughters. Adding further to her difficulties, the old loom she owned
broke-down, leading to production being ceasedresulting in business loss.
Fortunately, she was
introduced to Muthoot Microfin by one of her neighbours, and her life took a
positive turn. After learning about the collateral-free loan structure of
Muthoot Microfin, she immediately joined a Joint-Lending-Group and applied for aloan
of Rs. 30,000.
She utilised the
entire loan amount to repair the loom and buy weaving supplies in bulk. Gradually,
her business grew, and she started making a monthly income of Rs. 10,000. With the
profits soaring, she successfully repaid her first loan. Now Hemlata has
applied for a second loan of Rs. 40,000 and plans to install a power loom to expand
her business further.
Her journey to become an
entrepreneur has become an inspiration for the entire village and her family.
Hemlata attributes her success to Muthoot Microfin for providing her with the
required financial support to establish her business and fight against all
odds.
Hemlata is proud to be associated with Muthoot Microfin and said,“I am very grateful for the support Muthoot Microfin has given me at the time of difficulty, and help me grow my business. I am proud of my partnership with Muthoot Microfin as their timely loans helped me build my life from scratches”.
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