For the past 15 years, Syedali Fathima, a 37-year-old housewife turned shopkeeper from Thenkasi, Tamil Nadu, runs a small shop near her home with just enough earnings. However, since her association with Muthoot 2 years ago, she was able to expand the variety of things in her shop resulting in increased earnings.
Fathima was introduced to Muthoot by a friend and joined a JLG at her neighbourhood as she was impressed by the organisation’s simple and hassle-free procedures. She used the first cycle loan of ₹10,000 to buy seasonal items specific to the needs of the local population like sweets, biscuits, bread and other daily food items. Fathima also used the amount to buy in bulk in order to reduce the cost. The organisation further provided Fathima with business trainings and financial literacy classes.
Her attention to customer service enabled her to build a loyal cadre of customers. Fathima paid back her first loan and availed the second loan of ₹30,000. She always pays attention to the changing needs of her clients and stocks items to meet the changing demand.
Now, thanks to the regular income from the business, she can contribute to all the expenses of the family. Fathima is also using the growing profits to make an investment in her children’s future and have some savings.
Fathima says “Muthoot Microfin’s services helped me to run my business successfully and I am able to comfortably support my family now. I am looking forward to expand my business by opening another shop with further support from the organisation”.