Planet Finance France

Micro Stories

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Monsieur RANDRIANARISON – Sugar and sweets industry in Antananarivo.
François RANDRIANARISON has worked in the sugar industry of Madagascar for 20 years and sells his confections to wholesalers in several regions of the country. When he heard about MicroCred, an institution supported by PlaNet Finance, he decided to apply for a loan of 2,500,000 MGA (USD$1400) to increase his working capital. His application was quickly approved and with this loan he was able to increase his production by purchasing additional raw materials like sugar and fragrances. François plans to continue his collaboration with MicroCred in order to finish the construction of his workshop and to extend his business to new regions.

Zahra ESSADI
Determined to leave the streets, Zahra Essadi, a 36-year-old former prostitute who lives in Tighssaline, Morocco with her husband and 4 children, took advantage of a loan awarded by AMOS, a microfinance institution supported by PlaNet Finance. With 750 MAD (USD$90), she created a small animal husbandry enterprise. Later, having received 4 additional loans, she diversified her activities and bought a knitting and sewing machine to make custom blankets, pillows and dolls. Today, she has her own store, 10 goats tended by someone she employs and a tutor for her children.

Ganga ROY - A pedicab and a milk business in India
Thanks to a loan of 4,000 rupees (USD$90) granted by Bandhan, a member of the PlaNet Finance platform in India, Ganga Roy purchased a rickshaw for her husband who up to then had worked with a rented pedicab. The income produced by this new source of money allowed her to reimburse her first loan in 8 weeks. Ganga took out another loan of 5,000 rupees (USD$110) and used it to by a cow and sell its milk. With the cow, the family can earn 700 to 800 rupees per day. The couple’s economic condition improved. Now their daughter can attend school. The couple wants to take out other loans to purchase pedicabs and rent them out. Ganga also would like to purchase other cows in order to be able to sell milk products.

Arsenia GARCIA - A recycling business in Philippines
Arsenia Garcia is taking out her nineteenth loan. Her last loan was for 18,000 Philippine pesos, or about USD$2,000. She has created a small recycling business: she buys used or destroyed materials from junkmen, then restores them and sells them in her shop. She sells all types of material, including plastics, steel, and all types of metals. In 10 years, she has become the owner of a house – which is renovated in order to display her products – and a small car, and she generates an average of USD$35 a day in turnover! Her daily salary is nearly USD25$, and she has saved more than USD$1,000. Her six children are now married and one of them is an engineer. 

Brigida Mamani COQUINA - Alpaca wool creations in Peru
Brigidahas three chidren but lost her husband in a road accident. Since the accident, she has dedicated herself to her microbusiness and is responsible for bringing the income for the entire family. She took out her first loan 8 years ago, for 1,230 Peruvian soles (USD$330) in order to buy baby alpaca wool. With her know-how she began producing sweaters, hats and hand-embroidered gloves and scarves. Today, she has taken out her fifteenth loan, which was for 20,440 Peruvian soles (USD$5,800). She has six machines that allow her to produce 35 pieces per week. She employs 8 people: six work at her house and two in the store, for 2.5 soles an hour, or USD$6.  . The principal part of her turnover is reinvested in production and Brigida has never had any trouble repaying the loans.