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Customer Success Story- LOLC

June 21, 2021adminSuccess Stories

As a result of inheriting the craft to produce brushes and rugs made out of Coir from her parents, R. D. Ramyalatha decided to start her very own business and approached LOLC for a Rs. 25,000 Micro loan facility back in 2009.

Since then, Ramyalatha has obtained 7 micro loans from LOLC Finance and has been able to successfully expand and develop her business in multiple folds. Her steady improvement in cash flow gave her the required strength to transform her business premises from a simple mud-based construction to a more stable manufacturing plant whilst increasing her staff cadre to 16, over the years. The most recent micro loan which was obtained by Ramyalatha amounted to Rs. 235,000 and she continues to remain an active and successful burrower of LOLC. Whilst improving and expanding her business, she was also able to improve her quality of life by gradually completing the construction of her own house and providing the means for her children’s education. Furthermore, Ramyalatha’s business success influenced her husband to support her in business activities.

Today, Ramyalatha has become a role model and has inspired several young women to start their own businesses in their communities. She and her husband are currently operating the business together with the dream of expanding it further and to graduate to the next level.

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Lanka Microfinance Practitioners’ Association

LMPA is the pioneer in microfinance networking among microfinance practitioners in Sri Lanka, and was initiated on the 31st of March 2006. The Lanka Microfinance Practitioners’ Association is incorporated as a non-profit organization under the Companies Act No. 7 of 2007.

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