Forty two year old housewife Pramila Sahoo from Ekamra village near Salia Sahi in Bhubaneswar, Odisha is now a successful micro entrepreneur. However, her journey to become a successful entrepreneur hasn’t been an easy one. Pramila and her husband run a small kirana store near their home which was the only source of income for the family.
However, they often struggled to meet their basic needs and provide quality education for their only child, as income from the shop remained paltry due to lack of enough stocks in the shop. Pramila knew that her shop is in a potential area and enough quality items in the store could make it a success. For that she needed capital and approached local financiers but all of them demanded collateral security which she never had. Pramila was introduced to Muthoot Microfin during that time by a neighbour and was thrilled to know the organisations simple and hassle-free microfinance offerings.
She soon joined a JLG in her neighbourhood and availed the first cycle loan of `25,000. With her first loan, Pramila bought high quality stocks to fill her stacks and purchased popular items which ensured stable business and steady earnings. Her earnings increased remarkably to `800 a day, within a few months. Her only child is now pursuing a diploma course unlike Pramila, who had to drop out of school. Pramila believes that her prospects have immensely improved post the financial support and financial literacy trainings from Muthoot Microfin. With the increased earnings from her store Pramila steadily expanded her business.
Today, her shop has enough variety of stocks that can meet the demands of most customers in her neighbourhood. According to Pramila, her greatest achievement is that she has been able to save enough money every month for her family’s future and to continuously improve her business. She is now a role model in her village. She motivates other aspiring women in her village to pursue their entrepreneurial dreams and take the road to empowerment.