savings and lending

Keeping Track of Expenses Leads to Profits

Dimnoré is finally getting ahead, thanks to putting into practice what she learned from the program about “SMART” marketing goals (Specific, Measurable, Achievable, Relevant, and Time-based). It was only when she learned how to keep track of her small business expenses that she realized she’d doing a great deal of work for not much profit, and how to do better.

Dimnoré belongs to a Savings and Internal Lending group.  She took out a small loan to buy néré tree seeds to start making and selling soumbala (a fermented, protein-rich condiment, sold in balls or patties and used in a variety of dishes across Africa). Her original goal was at least to repay what she’d borrowed, plus interest. With her loan of $45 she grossed $54, and felt she’d gained, but when she learned how to subtract expenses, she was shocked that she’d netted only ninety-five cents. Or, as she put it, “I realized I was gaining nothing but suffering from all my work.”

Since then, she keeps track of all her costs, and is always finding ways cut down on cash outlays.  For instance, instead of spending money on public transportation and the day’s food to buy bags of seed at the city market, she asks a friend who is going anyway to get them for her. With her newfound earnings she’s been able to pay off her loan and has bought sheep to fatten for sale. She feels she’s becoming a SMART business woman, indeed!

Caption: Fattening sheep for resale

Burkina Faso Namentenga Program
Led by Catholic Relief Services

06/13/2018 | Comments: 0 | Add Comment | Read More

Saralin’s 10-Year Struggle Takes a Dramatic Turn

Before Saralin joined a Self-Help Group (SHG) through FRB’s India Umsning program, she’d struggled for 10 years as the head of her household to make ends meet and keep her two children in school. Besides farming, she also tried raising poultry. However, due to her lack of expertise, she didn’t earn as much as she expected from either activity.  

The training she and her SHG received in kitchen gardening and livestock rearing has transformed her life. Saralin now produces a variety of nutritious vegetables in different seasons to meet her family’s needs. And, after comprehensive livestock management training at a vocational center, her poultry business is thriving.

What Saralin learned gave her the confidence to take a loan from her SHG to purchase 500 chickens. It took her only two months to start earning a profit from selling eggs and chickens. She quickly paid back her loan, bought more chicks, and is even applying for a bank loan to further expand her business.

Through hard work and the steps she has taken to improve her life, Saralin has set a great example for other community members. She is now seen as one of the progressive poultry entrepreneurs in the village.

Says Saralin, “Since my Self Help Group formed, we’ve learned the importance of working together as a group, and have reaped the benefits of helping one another in the community.”

Story courtesy of Shamborlang Lakhiat
Caption: Saralin’s thriving poultry farm


India Umsning Program
Led by World Renew and local partner NEICORD
12 communities, 500 households, 2,500 individuals

11/30/2017 | Comments: 0 | Add Comment | Read More
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