WEAVING A SUCCESS STORY
Nithya knew that if she could buy more raw material in bulk, she could increase production and earn more. She started looking for additional capital, but without collateral she couldn’t obtain a loan from a traditional lending institution. Adding to their worries, the loom had problems and production was stopped. This resulted in delayed completion and delivery of committed orders and loss of repeat orders.
At this difficult time, a friend introduced Nithya to Samasta. She joined a group and took a loan. She used the first loan of Rs. 25,000 to repair the loom and buy weaving supplies in bulk. “I am happy that I took the decision of reaching out to Samasta. Their timely processing of loan helped us to restore our weaving business. The loan has helped us to buy supplies in bulk allowing us to increase profit,” said Nithya.
Availability of more raw materials has enabled the couple to take up more orders. They have increased production and now have a steady income of Rs. 30,000 – Rs. 35,000 a month. She now plans to install a UPS so that they can work without interruption during power outages.
Nithya embodies the entrepreneurial spirit that, with the right support, can transform lives. “I want to grow my business to be more successful so that I may be able to provide employment for others,” said Nithya, while showing a blue saree that she recently completed.