Today we have two stories of successful young entrepreneurs from the village of Veppayadi.
Our first is Ms. R. Vijitha, who runs two seasonal businesses out of her home and has greatly benefitted from microcredit loans from Rose Charities. In the dry season, Ms. Vijitha works as a seamstress and dressmaker, while in the wet season, runs a small vegetable garden. Before receiving assistance from Rose Microcredit, the combined income from these two businesses was about 5,000Rs per month. Her small garden plot provided enough fresh produce for the family to eat, while money earned from sewing was enough to add rice, eggs and meat to the family’s table. This was purely subsistence living. There was no real possibility of saving, and there was nothing to fall back on should a crop fail. Ms. Vijitha received three loans from Rose Microcredit of 20,000, 30,000 and 40,000Rs, respectively. With this money, she was able to purchase a larger plot for her garden and quickly began producing a wider variety and greater number of vegetables that could be sold at market. She also used some of the money to give her dressmaking business a kickstart by purchasing better equipment and fabrics. In short order, the family’s income tripled to 15,000Rs per month. Vijitha can begin to put the extra money into savings, which finally brings some financial security for the family, and propels her towards her future goal of opening her own grocery store and dressmaking shop.
In the same village, we find K. Nalini, a wife and mother of three. Ms. Nalini has run a small cattle farm and vegetable garden for the last 5 years. Until this year, the farm yielded only enough milk and vegetables to feed her family. Again, there was no possibility of saving money and thus no safety net should disaster strike. With two loans from Rose, the first, a trial loan of 30,000Rs, followed by a second more substantial loan of 200,000Rs, Ms. Nalini was able to buy two more cows and begin producing enough milk to sell. She also expanded her garden, adding long beans, eggplants and squash, all of which she could sell at market. She’s now producing enough income to feed her family and pay back her loans, with still plenty to put away as savings. For Ms. Nalini, this injection of capital has been enough to set her on a stable financial course. She has no need or desire to borrow any further. Her focus now is on saving, making smart financial decisions, and building towards a prosperous future.