Financial Inclusion – Providing Economic Stability
Smt. Lata Bai Devangan was also running a small General store in her village Malighori, Balod. Started with a small kirana shop at her veranda, she has now become a proud owner of a Cloth Store. She believes the concept “necessity is the mother of invention”. The support for her necessity was provided by Spandana by providing loan to a person who can put her effort and make herself a self made person. She joined hands with Spandana in the year 2012 at Balod. Prior to 2012, her family’s only source of income was the general store at her veranda and the income from that business was not enough to fulfill the needs of her family of 4. The annual income of her family was below Rs.60000/- p.a. But after she joined hands with Spandana after getting a training, she understood the importance of high income and with courage and conviction took the first loan of Rs.14,000 from Spandana. Subsequently, she took loans of Rs. Rs.15000/- and then Rs.10000/-, and repaid all her loans timely. She earned a good reputation in the society. Her family income has grown by over 1 lac p.a.. And now she not only sells her clothes at the store, but also does small sewing & stitching jobs and also provided jobs to the needy of her village. She has now become an employer of few needy women and has been paying them salary too for supervising her cloth store. A tremendous turnaround in growth with a positive attitude.