Grameen Foundation : Get involved : Gift Catalog : Larger microbusiness
$225 - Launch a larger microbusiness
 |
| Microfinance helped Mary bring her family out of poverty. |
Mary, a 45 year-old widow, was only educated up until primary school. When she lost her husband, she was left with few options to earn a living. Working as a laborer in a bakery unit, she could hardly make ends meet. However, Mary enjoyed the baking process and wanted to start a small bakery by herself. She lacked the means to make her dream a reality.
Female friends and acquaintances she knew told her about a local microfinance program called ESAF Savings and Credit Programme. Her friends were members of ESAF. Even so, she only became a member after talking with several more women to learn more about the program. She researched local bakeries and learned how to make hers a success. Then she took her first loan of 10,000 rupees (USD $225) to start her own production unit for baked goods. ESAF gave her both technical and marketing support to help her get started. With the assistance of their staff, she purchased two ovens and raw materials in bulk for her bakery. During local festivals she took it upon herself to put set up stalls for selling her products. As she started to accumulate more customers, she took a second loan of 10,000 rupees (USD $225) and hired two women to work as her assistants.
After two years Mary’s success has been inspiring. Her family has been able to pay off the debts left by her husband, and she now enjoys financial security. “This program really helped me and my family to come out of poverty. I thank God for ESAF and its support,” says Mary.
Grameen Foundation : Get involved : Gift Catalog : Larger microbusiness
Grameen Foundation uses microfinance and innovative technology to fight global poverty and bring opportunities to the world's poorest people. With tiny loans and financial services, we help the poor, mostly women, start businesses and escape poverty. Our global network of 55 microfinance institution (MFI) partners including our Growth Guarantee partners has touched more than 34 million people in 24 countries. In addition, we introduced and now sustain technology initiatives (Mifos and Village Phone) in Cameroon, Kenya, Rwanda, and Uganda, bringing our total country outreach to 28.
+1-202-628-3560 www.grameenfoundation.org
You can help