Micro-Enterprise Report from Agra, India October 2008

Dear Change4Change,

MED - Agra is functioning smoothly. In the first cycle nine people have done well in their projects and repaid their full amount. Three of them have taken loan of Rs. 5000/- each for the second time. Six new people are helped. One of the first batch has paid only Rs.1800/- and he need to pay back Rs.2400/- more. We are working on it.

The quarterly return with few of the photographs with testimonies is enclosed.

Thanking you.

Case Studies

Case Study 1

Name: Ramesh Chand

Business:  Petty Shop
Loan:  Rs.5000/-
Repayments:
Cycle:  10 months
Amount:  Rs.500

Repayment date: 1st Week
Total repayment with Admin. Charges: Rs.5200/-

History

Ramesh Chand - Two years back I was running a small petty shop in which I earned about Rs.30 per day. Last year I got a loan of Rs.8000/- from MED and bought a fridge to sell cold water and soft drinks. By this my profit raised to Rs.70/- a day. I returned the first loan and this year I took a second loan of Rs.5000/-. This year I added some provisions like rice, dal. etc. Now my business is increasing and running smoothly. I am able to earn about Rs.100/- per day. I and my family are thankful for the help given to us.

Case Study 2

Name: Ashok

Business:  Milkman
Loan:  10000/=
Repayments:
Cycle:  10 months
Amount:  Rs.1000/=

Repayment date: 1st Week
Total repayment with Admin. Charges: Rs.10400/=

History

Ashok- I am a milk man selling a small quantity of milk house to house. With this business I was supporting my family and also able to save Rs.10, 000/-. I wanted to buy a buffalo for my own which would cost about Rs.20, 000/-. During this time MED came my way. From the MED project I got a loan of Rs.10, 000/- with which I purchased a buffalo with a baby calf. Now I am earning a profit of Rs.150/- per day. My wife helps me in taking care of the buffalo. We thank you for the timely help given to us through the MED project. We are very happy. Thank you.