MATCHING GRANT PROGRAM - Success Stories
MGP Loan Allows Them to Diversify Their Business and Invest in More Employees
Panchayat: Navani
Block: Puduchatram
District: Namakkal
Activity: Photo studio and Xerox shop
Iam Ms. Rega, aged 37. I have been a member of SHG for the last 7 years. I started my photostudio business 5 years ago with Rs 2 lakhs. My husband has a separate studio in Rasipuram which is 20 km away from Puduchatram village. I learnt photo capturing skills from my husband and he supported me to keep a studio in our native place, so that we could cover local orders too.
I availed a Covid Assistance Loan of Rs. 50,000 loan from VKP and I repaid on time by paying Rs 2,000 every month. With this loan, we bought a Xerox machine for gaining extra income. We kept our original studio accessories of lower-end camera, video camera and colour printer. Some 6 months back, I took on work of professional courier agency.
Meanwhile, in PLF meeting I came to know that the project is giving MGP loan and I applied for it with support of ECP in September 2022. I received MGP loan of Rs. 4, 50,000 during November 2022.
With thisamount,we bought a highend camera i.e. Canon mark, umbrella, and harddisk. We were renting ourold camera for Rs 4,000 but with thenew model, we are getting rental income of Rs 10,000 in one day. We are also using the camera for weddings, bank Mitra events, NREGA, PLF meeting and for passport size pictures. Through this Studio and Xerox shop, we earn a profit of Rs 30,000–35,000 per month after paying rent, and wages for 3 members. Earlier I had one person as support staff and three as part time workers, now I have employed 3 full time members to take care of the studio.
MGP utilised for investment in green enterprise
Name: Poovizhi
Panchayat: Mutharasanallur
Block: Andanallur
District: Trichy
Activity: Led Bulb
I am Tmt. D. Poovizhi, aged 34 and a resident of Mutharasanalur panchayat,Andanalur block, Trichy district. I completed my masters in Yoga. I am an SHG member for the past 7 years. I was running e-Sevai center along with my husband in 2021 and through this centre there was an option to undergo training in renewable or non-renewable energy. I opted to take up renewable source and LED bulb making as they are energy efficient. We had the option to market our products through the CSC e-sevai store.
I was trained in Master Bright Electrical Industries, Coimbatore on LED and wanted to start my own business in LED bulb manufacturing. However, I lacked knowledge about a preparing a business plan, and finding source of finance from banks. Through women self-help group I contacted Mutharasanallur ECP who gave me a detailed explanation about the project and Matching Grant Program. The ECP also supported and gave me a detail account on eligibility criteria, documents and application procedure to avail the loan.
After 3-4 rounds of verification I received a loan amount of Rs. 5 lakhs from the bank which inclusive of my Margin Money. I started my own LED bulb enterprise in the name of Sri Varma Enterprise and employed two women employees.
Vazhndhu Kattuvom Project is making me feel confident and helping aspiring entrepreneurs like me to turn our dreams into reality.
Disability Doesn’t Hold Her Back; MGP Allows Her to Use All Her skills productively
Panchayat: Kilavaneri
Block: Kariyapatti
District: Virudhunagar
Activity: Food cart
I am Mrs. Kavitha, wife of P. Srinivasan from Kilavaneri Village. I am running an evening food stall on a small trolley in Kariyapatti Town. I am a differently-abled person (deaf and dumb) and I was running the business for the last 10 years in Madurai. I am a member of the APJ Abdul Kalam Self Help Group for Women.
Over the three years only I shifted to my home place. I sell fast food items like noodles, fried rice, chaat items etc. I earn a small income from this stall, but it is not enough for my family and my children’s education. I wanted to expand this business, as there was not enough space to sit and eat, but I did not have any financial support to expand the business.
The Panchayat ECP and the panchayat level federation (PLF) and local workers identified me for an MGP loan by which I could get a loan with 30%subsidy to expand my business through the Vaazhndhu Kaattuvom Project.
My loan was sanctioned and I received Rs.3,10,000 from Indian Overseas Bank. With this, we bought more advanced stoves for cooking, furniture, and made other infrastructure additions. Per day, we are able to earn a minimum income of Rs. 6000 and we do the preparatory work from 10 am to 3 pm. Recently, we appointed 2 persons for serving and also for washing vessels.
My wife is very talented, even though she is deaf and dumb, she is able to convey all the instructions and she manages the finances very well. My life has completely changed after I married her, says her husband Sreenivasan.