As you recall, CloudVO’s ongoing Entrepreneurs for Entrepreneurs campaign funds loans to help small business owners access the tools and resources they need to develop and succeed. With our post about Arben, we highlighted the importance of these loans, and how they empower our team and community members to give back to other startups and established business owners on a global level.
Today we will highlight, Ashalata.
Ashalata, 38, is a married woman living with her family in the Khurda district of Odisha, India, located in the Eastern coastal region. She currently runs a sewing business to earn her daily bread, where she makes traditional clothing such as salwar suits, pickku, patiala suits, blouses, along with household items like pillow covers, etc. Her monthly income is Rs. 2,500. That is approximately $37.32.
In order to support her family, and develop her professional skills, Ashalata aims to grow the sewing business. Therefore, she asked for a loan of Rs. 20,000 ($298.60) from MSF, Milaap’s field partner facilitating this loan, to expand her business. (Milaap is India’s biggest crowdfunding and fundraising website). Ashalata expects to use her loan for purchasing a new sewing machine and more raw material. This will help her grow the business by increasing inventory, as well as variety, indicating more choices for her customers.
Ashalata anticipates that her monthly income will increase by approximately Rs. 1,000 ($14.93) after she purchases the sewing machine and fabric. This allows her to save more money for the future.
This loan is special because it serves women living in some of India’s poorest and most remote areas.
On August 30th, 2016 with the help of CloudVO and 8 other vendors, Ashalata received her loan in full. She was extremely grateful to everyone who came forward to support her.
Entrepreneurs for Entrepreneurs continues to fund loans to help business owners worldwide. Join our team today and help women like Ashalata achieve their business goals.