Valiben - Bhalada
Valiben’s dynamic personality, coupled with her unmatched drive and ability of persuasion, is a story to be shared.
About 6 years ago, valiben and her husband -- both farmers by profession -- first approached Spandana with an idea of starting a dairy farm. She started to pursue her dream with an initial loan amount of Rs 12,000 in the first cycle. She purchased a cow and started selling the milk to Amul factory located in Anand District, Gujarat.
Her first attempt to start her own dairy farm with a single cow was a grand success. She started to repay the loan as scheduled and also started savings after all the expenses.
After successful completion of first cycle loan, she took Rs 14,000 as a second cycle loan. She used that amount to purchase one more cow. With two cows in the barn, her income was doubled and so are her savings. This has not only opened her path to income generation, but also increased her self confidence. She started repaying her loan as per schedule without any fail. During the third cycle, she received a loan of Rs 16,000 from us. With the little savings she made earlier and with the loan amount received, she purchased two more cows. By the end of third cycle, she has 4 cows in her barn. She multiplied her monthly savings and started focusing on improving productivity.
An amount of Rs 24,000 was sanctioned in the fourth cycle and Rs 30,000 in the fifth cycle. She is about to complete her fifth cycle loan repayment. Now she is a proud owner of dairy farm with 20 cows and 4 calves. When our team went to check how she utilized the loans provided to her, she said that she is willing to a take new loan sufficient enough to kick start a new diary unit with 25 cows.
After these many years of struggle and hard work, she is now earning more than Rs 20, 000 after all the expenses. Now, she is educating her children and has provided a fan, a bed, TV and other facilities to her family which were unheard of earlier.
During a hot summer afternoon of 1997, when most of the women would prefer a siesta,The Founder and Managing Director – Spandana , Mrs. Padmaja Reddy, saw a rag-picker woman on the street buying household reject items on a push cart. Her dedication and entrepreneurship made Ms. Reddy curious. Speaking to her, our team realized that the lady was working very hard but not getting commensurate returns. Despite her dedication and efforts, she succeeded in providing only one meal to her family.
This was mainly because the lady was paying an exploitative daily rent for the cart that cumulatively far exceeded the cost of buying scores of such carts. The lack of access to affordable and serviceable capital was leaving little alternative options for her. While a bank would never provide credit to her for many reasons, the money-lender was far too unfair. That’s the time we decided to lend her money, enough to buy a cart. The money was given with a promise of timely and reasonable repayments.
The hard working woman started using her new self-owned push cart; she could save on the rent cost and repaid the money conveniently from her increased returns. Now this woman could afford better living for herself and her children. Thus the word of mouth did all the marketing for us. It seemed to strike the right chord with several low-income people, and soon there were many waiting to meet Spandana team at their doorstep. It is but seldom that an everyday experience is so profound and timely that it stirs in a person the courage to set things right.
This success story is from Khurda – Bhubaneswar; this success story proves that “its never too late to start”. At the age of 42 , Tilatama Mohanty started her own business of selling snacks and is successfully running it for the past 10 years. Like any other rural woman she was married at an early age and then on her life has never been the same. To earn a living and feed the family she was working in a tailoring shop, where even after the whole day of work it was difficult for her to provide for her family.
While she was still working in the tailoring shop, she casually learnt the art of making snacks at home along with one of her relative. While learning the art she never imagined that she could make it big and continue doing the same for the rest of her life. The money she was making by working at the tailoring shop was not enough to fulfill the needs of her family. She started her own business of making and selling snacks.
Initially she took a loan of Rs. 7000 from her friends and relatives to start the business. With her dedication and hard work along with the support of her family her business flourished. With time, she strengthened the foundation of the business and started making profits. With the increase in the number of orders, she has now employed 4 women her and pays them Rs 100 per day. They make around 800-900 packets per day and sell the packets to wholesalers. She earns almost 1000 a day and after paying off the labor charges, 600 is her profit.
She is associated with Spandana for over 3 years and have taken loan 3 times to support her business. The first cycle loan was of Rs. 12000, 2nd cycle was of 24000 and 3rd was of Rs. 32000 which she took recently.
At this point she is looking forward to a personal loan or a high ticket loan from us, which will help her expand the business by adding more products to her product line.
This Success story is from Banki in Orissa; Mamta Behare belonged to below the poverty line family. When Mamta heard about Spadana and was introduced to the team, her family was in debt of Rs 10,000/- with no source of income. The family was in a grave situation with no hope for the betterment of their life.
The Member Working in her Farm
To generate some source of income, she approached the Bank for a loan, but as expected it was an outright reject with a reason that she did not have anything to mortgage. After this rejection she heard about Spandana through some common source in her area.
She approached Spandana, and looking at her determination and zeal of earning. She was sanctioned a loan of Rs 10,000. That was all she needed to start something of her own, with the financial support from Spandana made she bought a cow and started the business of selling milk. Her family got in the business with her and they started earning profits but to grow that business they needed more investment. Spandana again helped her by giving her a loan of Rs 14000, with which she further owned two more cows.
Increase in Family’s earning allowed her to clear the debt of Rs 10,000. With the same profit she further invested in her business and purchased 2 Calves. With the new addition to her Business she started selling milk products like Cottage Cheese (Paneer) and Butter. Looking at her hard work and her business growth we again helped her with a loan of Rs 24000/-.
Wider View of Cattle Farm
With her new investment and hard work her dreams for growing the business came true. We helped her further with a sum of Rs 30000 and saw her dream growing and flourishing.
Present day she has a total of 18 Cows & 6 Calves in her dairy, which lead to a vast increase in family income. This improved her standard of living to a great extent. She has set an example in her society that how a woman in debt can take things in her own hands by becoming an Entrepreneur and through optimum utilisation of funds can reach new heights in financial success.
She believes, she succeeded only because of Spandana’s help at the right time. She says – “I have neither taken Loan from any other MFI, nor I am willing to but I will continue to do so from this company because of this i have become what I am today.(Spandana)”