Satya MicroCapital: Introducing Women Entrepreneurs to Financial Independence and Sustainable Livelihood

Sakila Mondal’s life journey has been noteworthy as she fought through some difficult days and ensured financial stability of her family. Sakila resided in Bardhaman district of West Bengal, with her husband and grandson. Her story of determination and struggle to stand up economically for her family is quite inspiring.

Due to a sudden death of their married daughter few years ago, Sakila adopted her grandson. Being a traditional farmer, Sakila’s husband’s income was barely enough to even suffice the most basic household expenses. The middle-aged couple was finding it difficult to meet the education expenses of their grandson. However, Sakila wanted to see her grandson well-settled in life with quality education and earn decent income in future.  Keeping this  in mind, she decided to open a small grocery store and earn some extra income to meet their monthly expenses.

While she had made a firm decision of opening her own shop by applying for credit, lack of documentation proofs as required by banks proved to be a hindrance. This is when her neighbour introduced her to one of the loan officers of SATYA MicroCapital Limited, a Non-banking Financial Company- Microfinance Institution (NBFC-MFI) who assured Sakila to provide micro-credit which was collateral free with minimum documentation.

With a basic understanding on the benefits of micro-loans, Sakila opted for her first loan amount of Rs 30,000 from Satya MicroCapital and setup a small grocery store.  Since then, Sakila and her husband devoted time towards the expansion of their business which  paid off fairly well for their family. At present, she also looks forward to the second loan cycle and has borrowed Rs 45,000 to increase her stock in shop due to increasing demands from customers. With the increased income and savings, she was able to send her grandson to a school of repute.

Today, Sakila has not only become an example of being a successful entrepreneur, but also has become an inspiration to every woman amidst the entire village. Satya MicroCapital has helped many local women entrepreneurs to improve their economic status and realise their dreams to improve their quality of life.