Microfinance Borrowers Demand Higher Loans and Value Added Services

Microfinance Focus December 29, 2010: Fatima Mansoori applied for a loan of Rs 25,000 from a microfinance institution in Bangalore for the purpose of starting a grocery store in her neighborhood. She was able to pay up the loan in time and was quite satisfied with the services provided to her by the institution. However, her suggestion in the institution’s weekly meeting was that she be granted loans of higher amounts for the expansion of her business in the future.

“I was able to start a grocery shop by acquiring a loan amount of Rs 25, 000 from my institution; however I aspire to obtain a loan of higher amounts to be able to make more money and expand my business. With this loan I’m sure to be able to make the kind of purchases I have already thought of for my business,” said Mansoori.

At the weekly meeting, the women shared the opinion that the loans sanctioned to them benefitted them in many ways. While there were some who had applied for emergency loans there were also others who had applied for supplementary loans.

Furthermore, the women demanded to be able to receive education on the health issues and financial aspects. They also wished to acquire training on new skill and business development.

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