Satin, India: Ranu Kalita, age 38 years, is a resident of Changsari, in Guwahati, Assam in India. She lives with her husband and two children. Their financial position was not very stable as her husband's income was not sufficient for survival of their family. Due to lack of financial literacy, assets or proper income, they were not able to reach out to banks or formal institutions for availing credit. Ranu says, "We believe that with SCNL (Satin), we can abolish poverty by giving weavers a chance to stand on their feet."
In 2018, Ranu Kalita got associated with SCNL for her 1st loan of Rs 30,000 (~USD 425) from a center to enhance her income through weaving of yarn into fabric. By investing her loan in weaving, she got a chance to work towards a better life. The collateral-free and low-cost nature of the micro-loan offered from SCNL allowed her to work independently and purchase yarn in bulk at affordable rates and even work towards improving her marketing channels or increase of fabric sale in her own native village.
Ranu Kalita now earns about Rs. 200-300 (~USD 3-4) per day. Considering her growing business, her husband also supports her by giving time to her business. She is now financially secure and plans to further strengthen her business with assistance from SCNL. There are many untold stories concealed by the rhythm of the weaving which can be heard in every village of Assam as Ranu Kalita. She is a proud entrepreneur now and is an inspiration to several women from her village.
Source: Satin, India. https://satincreditcare.com/