Borrower: Mrs. Majida
Majida is a 44-year-old woman, married with two children. She started her career as a schoolteacher and helped her father in his mini-market. After her father passed away, she had to quit her job to run the mini-market. With the help of her husband along with her savings, she was able to use $3,000 to diversify her products by adding canned food and flour.
Majida’s experience and good customer service allowed her to increase her profit, which encouraged her to expand her mini-market.
As a small business owner, Majida faced difficulties securing a loan from a bank to help her develop her mini-market, until she applied for a loan from Emkan Finance. She took an initial loan of $1,300 to purchase a fridge and diversify her products. Soon after she repaid the first loan, she secured a second loan of $2,600 to further diversify her products by adding cleaning detergents, toiletries, etc. These improvements allowed her to substantially increase her popularity and daily sales, and reach her financial goals, including building a house in her town.
Later on, Majida benefited from a third loan of $2,000 to also increase the products in her mini-market like chocolates, juices, soft drinks, canned food, household products, etc.
Majida’s future plans include purchasing another place next to the mini-market to expand her business and acquire more products. She is reaching out to Emkan Finance to help her finance her project, and Emkan finance is glad to respond to such requests in fulfillment of its institutional mission.