MSF Blog

R. Elamma a resident of Taati Sahi, Bhubaneswar, is engaged in basket weaving business with her husband and daughter for the last 7-8 years. Her son does electric works and earn INR 6000/- a month. After her daughter’s marriage, she continued basket weaving with her husband. But the business was on a low scale. Because of shortage of money, they were not able to purchase the raw-materials in bulk, and hence were not able to generate more money from the business.

In the year 2018, from a fellow basket weaver of her village and a good friend – P Sabitri, who’s also a client of Sampark Fin Services Pvt. Ltd. (an organisation promoted by Mahashakti Foundation), she got to know about SFS and how the company lends small & micro-loans to women for using the money in their businesses to earn more. She then approached the Bhubaneswar branch of SFS for micro-enterprise loan in the month of August. After learning about the loan product and process, she formed a group of five women and applied for loan from Sampark.

The Relationship Officer of the branch went for business verification & document collection for credit bureau verification. Then after Elamma received a loan of INR 25000/-. She used the money to purchase of pine straw, willow, oak, stems, thread, fine wooden splints and other raw materials to make baskets, mats and other products and sell in large numbers. She started earning INR 500/- a day from the same. Paying the instalment was also not an issue the business went on well.

In February 2020, after repaying her first loan, Elamma applied for a second cycle loan from Sampark and received INR 35000/-. Though her business had hit a rough patch due to the Covid-19 pandemic for three months, and she had also availed the moratorium then. But with sheer hard work, she revived her business after the Unlock phase started and is now earning good and is paying her monthly instalments on time. Sampark Fin Services feels blessed to support people like Elamma and bring financial stability in their lives.