Building Relationships With 20 New Microfinance Signups
March 8, 2024, is an eventful day for us and our Manila team as we celebrate 20 new signups to our Honor 1000 Microfinance Program!
Ganga Damai joined Shakti Women’s group after My Business My Freedom (MBMF) reached her village in Nepal three years ago.
She is 46 years old and has six members in her family. The main source of their family’s income before she started her MBMF journey was farming and agriculture. She and her husband did it hand in hand. While her husband focused on agriculture, Ganga did the labor work. However, labor work was not a stable source of income for her, and Ganga wanted to start a business of her own.
“In the absence of other sources of income, it was difficult for me and my husband to manage and solve various financial problems in the family,” said Ganga.
The MBMF team recognized Ganga’s problems and provided the opportunity to stay in the group by giving her another business idea: selling goats! The loan of Rs 30,000 (A$ 536) allowed her to begin her business with four goats. After seven months, she was able to repay the loan and bought two kids.
The second loan she took was Rs 70,000 (A$ 1250), and it was for the expansion of her small business: to build a better shed and to add more good quality goats to her farm. Thankfully, she was able to add six more goats. Now, she has goats worth Rs 60,000 (A$ 1071) — this was double the amount that was initially loaned to her before beginning her goat business!
Ganga’s heart swells with hope as she moves closer and closer to solving their financial problems, stabilizing her goat farm as a reliable source of income for her family.
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Help stabilize Nepali women with a small business loan. Your donation of US$200 will go a long way. Click on the links below to know more.
Our Partners
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