Gorapadar, Chhattisgarh : Microfinance continues to be a vital force driving entrepreneurship
and empowerment across India’s rural communities. Through their Joint Liability
Group (JLG) lending model, designed for women entrepreneurs, IIFL Samasta
Finance Ltd an RBI-registered microfinance
institution established in 2008 and a subsidiary of IIFL Group, has empowered Shabana
Mohammad, a resident of Gorapadar
village, Chhattisgarh, to turn her traditional mattress weaving skill into
a successful business - exemplifying the transformative power of financial
inclusion in rural India.
Shabana, trained
under a government-supported program, possessed strong craftsmanship but lacked
the financial means to start her own enterprise. In 2021, she availed her first
Joint Liability Group (JLG) loan of ₹50,000 from IIFL Samasta Finance to
purchase raw materials such as cotton, fabric, and thread. The quality of her
mattresses quickly gained attention among local retailers and customers,
enabling her to establish a steady income stream.
Encouraged by her
initial success, Shabana continued her growth journey through subsequent loan
cycles to expand production and invest in an electric weaving machine that
improved efficiency and quality. Today, she produces around 300 mattresses per month,
supplying to schools, colleges, and markets across Chhattisgarh.
Beyond her
entrepreneurial achievements, Shabana’s story has inspired several women in her
community to pursue financial independence. Her business now supports her
family’s aspirations, her elder son is pursuing higher education while her
younger son continues school.
Speaking on the success, a spokesperson
from IIFL Samasta Finance Ltd. said, “Shabana’s journey reflects the essence
of inclusive finance, empowering women with access to credit and confidence to
build sustainable livelihoods.
With the right
support, every woman can become an architect of change for her family, her
community, and herself.”