Lokanath Baliarsingh, a resident of Nanda Sahi, Khordha, had been running his beloved breakfast shop for over two decades. However, he often found himself in need of a small loan to purchase raw materials. The local money lenders seemed like the easiest option, despite their exorbitant interest rates and lack of documentation.
When Lokanath learned about the seamless process of the Jeevika Foundation in assisting micro-entrepreneurs like himself, he decided to approach them. Recognizing his sales potential, the foundation provided him with a loan of 15,000 rupees in his first loan cycle. Encouraged by his progress, Lokanath applied for a second loan cycle and received 30,000 rupees.
With the support of the Jeevika Foundation, Lokanath no longer had to rely on high-interest loans from local money lenders. He expressed his gratitude, stating, “Now I have the backing of the Jeevika Foundation for my financial needs in running my small shop. Such strength is vital for businesses like mine.”
The partnership with the Jeevika Foundation empowered Lokanath to navigate his business with confidence. The financial assistance he received helped him maintain a steady supply of raw materials, ensuring the uninterrupted operation of his breakfast shop. Lokanath’s story exemplifies the importance of accessible and fair financial support for small businesses, allowing them to flourish and contribute to the local economy.
