VSSM helps Talabhai Barot Expand his Business
|Talabhai showing his embroidery material|
Talabhai Ukabhai Barot is the resident of Old Deesa of Deesa Taluka of Banaskantha District. Talabhai is earning his livelihood expenses by running a small business of embroidery lace borders. It was very difficult for him to run his house with the investment of small amount for the business. The costing of running business was more and earning was lesser. Thus, Talabhai could not fulfil the basic needs of his family. Talabhai, the father of three daughters, was taking the money from the private money lenders for high amount of the interest on it. The small capital on hand restricted him to buy more material on a cheaper price from the wholesale dealers. He was buying his business material from Palanpur and his profit was less due to buying less material on a daily basis on a higher rates from the local shop. The local money lenders used to take higher interest rates and even if any day he didn’t have business, he had to pay the actual interest for the capital he has taken from the local money lender.
Talabhai was already earning lesser than his requirement and wanted some loan to purchase more material for business. He goes to the surrounding areas to sell the embroidery borders. Initially he used to buy material for Rs. 5000 and 2000. Then he met VSSM Karyakar Maheshbhai through a loaner of the VSSM. He expressed his problems and asked if he can have some loan from VSSM. He was given Rs. 20,000 during the May 2017. The good part of showing trust to him has now given him confidence to buy more material from Surat for wholesale rates. His profit has increased as well. This interest free loan saves the interest he had to pay earlier. His capacity to buy more material has made him good businessman who can give considerable options to his customers. All these changes have enabled him to repay his loan to VSSM regularly.
He has already paid half of the amount of his loan that is 10,000. He himself calls Maheshbhai to pay the dues which shows his integrity. Talabhai says that now he is not in that poor condition or feels disrespectful. But this help brought stability in his earnings and made him stronger to buy more business material. Earlier local lenders used give loans of 10000 by cutting 1000 as interest and he had to pay rest 9000 by 100 Rupee each month. This made the vicious circle of debts going and amount to be paid increased. But VSSM's interest free loan freed him from this vicious circle.
Maheshbhai says with smile, “Local money lenders are telling us that our business is now in danger as your organisation is giving interest free loans. People don’t come to us for money now but they say that we are getting interest free loans and that is very helpful to them.”
What more can be success than this to us! Our trust is taken care by repaying the loans on time with thanks by the community. We could be the means for them to bring stability in their lives by our small amount of helping hand.
We owe this success to our respected donors! We hope you keep appreciating us like this.
Loan ID: 1325