Ms. Kautika hails from Waraseoni district in Madhya Pradesh. She and her husband are among the few families who have strived to preserve the ancient form of the Chanderi weave. The paucity of working capital forces many such artisans to work as daily wage laborers on their looms earning a meagre INR 250 per day. “It was so difficult for us to make ends meet.” They always felt they could earn more if they purchased raw material in bulk and sold the finished products in the market.
After learning about Credit Access Grameen’s microfinance program, Kautika joined the group and availed an Income Generation Loan from CreditAccess Grameen. The collateral-free, easy to access and low-cost nature of the microloan allowed her to work independently. She could now purchase raw material in bulk and sell the finished products in the market, fetching better profits. “We make 10-15 Chanderi Sarees every month, earning a profit of 10,000 to 18,000 rupees after expenses,” says Kautika.
“We are delighted we could eliminate the role of a contractor with the help of income generation loan from CreditAccess Grameen,” she added.