Striving to succeed
Geetha Selvam, a 51-year-old housewife from Thilaspet in Pondicherry is now a successful entrepreneur after her association with Muthoot Microfin two years ago. Today, she earns good income from her small grocery shop situated adjacent to her house.
Earlier, apart from Geetha’s negligible tailoring works, the family was reliant on the income of her husband Selvam, who is a local cable TV technician. But when the pandemic hit the area, the family, like many others faced a lot of financial stress. The family survived the worst period with help from different quarters including food supplies from the government.
The situation prompted Geetha to start something that provides a decent, sustainable income. Her aspiration to grow from a small-time tailor to a grocery shop owner required assistance in the form of finance. She approached local financiers, but exorbitant rates and security requirements hindered to avail finance.
Meantime, a friend introduced her to Muthoot Microfin, and she became a member of neighbourhood JLG. Geetha availed her first cycle loan of ₹ 20,000 and utilised the amount to set up the grocery store. She is now on her third cycle loan of ₹ 30,000. With the amount, she has filled the racks of her store with fast moving items. She now earns at least ₹1000 a day in profits.
Today, her business is so successful that she pays for her own expenses, her children’s education, and contributes to her family expenses and the family is no longer dependent on her husband’s income.
Muthoot Microfin loans and subsequent trainings helped Geetha to build up confidence and prove herself to be a successful entrepreneur. Her success story is an example for other women in the village. She says, “I’m so happy to be part of Muthoot Microfin, I believe without loans from Muthoot, our family life wouldn’t be the way it is today”.