Mrs. Rani, a resident of Anekal Taluk in Karnataka owns a power loom unit, which she operates with the help of her husband and son. She has been a CA Grameen customer for 3 years now. Rani ventured into the power loom business in the year 2015 with a single machine. With a desire to put her business on the fast track, she decided to avail loans from the company. Using 3 term-loans of Rs. 40,000, Rs. 25,000, and Rs. 60,000 disbursed by the company, paired with some of her savings, she was able to add 3 more machines to her weaving unit and purchase the required raw materials.
Rani aspired to take her business to new heights. When a loan officer from CA Grameen introduced her to Grameen Unnati Loan, she immediately applied for it. Grameen Unnati is the company’s recently launched business loan of ticket-size Rs. 1,50,000 envisaged for existing and graduated group lending customers to help them meet capital investment for the purchase of inventory, machinery, or working capital for business expansion. Sharing her experience about the Unnati loan, she says, “I was not able to fulfill all the eligibility criteria listed by banks, in order to avail a business loan. That’s when I found out about the Unnati loan. I was happy with the big-ticket size, affordable interest rate, and minimal documentation. The loan has enabled me to add 2 more machines to my unit. With a total of 6 machines, we are now capable of producing 18-20 sarees per day and earn a profit of around Rs. 600 – Rs. 700. We have a profitably running business throughout the year and can fulfill bulk orders too. I am glad that I have chosen a Unnati loan for my business. I have also recommended it to my neighbours and friends.”