BigDent loans support growing businesses

Six clients share their success stories
Dorothy Owino
Dorothy Owino joined a Missions of Hope microfinance group in 2013. She lives in Huruma with her husband and three children and runs a clinic (drugstore) in her neighborhood. With her first loan she was able to stock her clinic with more medications and supplies and diversify the brands she offers to her customers. This loan gave her business a huge boost and a competitive edge. She is now repaying her second loan and has plans to open another clinic in the near future. She is grateful to BigDent for how these loans have helped her family.

 
Grace Njeri is a mother of three children who lives in Gikomba. She runs a grain shop, selling raw grains to local restaurants and bakeries. She joined a microfinance group at the beginning of 2014 with the hope of expanding her business so she can provide for her children’s needs. She was introduced to Missions of Hope by a friend who is a member of an older group. Grace has just repaid her first loan and is in the process of applying for another loan. Her business is thriving and she is looking forward to expanding her distribution area in the next few months.
Lucy Wanja joined a Missions of Hope group in 2014. She currently operates a mobile phone accessory shop and a mobile banking station. Lucy is the leader of her microfinance group and has the drive to grow her business. She has just finished repaying her first loan, which she used to add more stock to her business. As she prepares to apply for her next loan, she is planning to expand her mobile banking options so she can work with every customer and his banking needs. She is grateful for how these BigDent loans have helped her.

 
Maurice Owino Ng’ong’a
Maurice Owino Ng’ong’a lives in Mathare Valley with his wife and four children. He joined a microfinance self-help group at the start of 2014 in order to expand his shoe manufacturing business. Before he joined BigDent he struggled to earn enough money to provide for his family’s needs. After he received his first loan he was able to expand his business by investing in better tools and supplies. He is now able to supply shoes to more retailers. He is grateful for this loan, as it has ensured that Maurice can keep all of his children fed and in school. 
 
Nicholas Kegode
Nicholas Kegode operates a grocery shop with his wife. They support their family of three children, all of whom attend school. His biggest challenge is that he was brought up in a very poor household and now must also support his parents. He joined a BigDent microfinance group specifically to improve his business. He says that BigDent’s interest rate is lower than other microfinance organizations and very customer-friendly, and offers other services that help his business grow. He has found that his microfinance accountability group is the place where he can meet friends and grow spiritually. 
Johnson Kyalo
Johnson Kyalo is a taxi driver who also operates a small shoe stall. He’s the father of a young family. Due to his entrepreneurial skills and a desire to expand his business, he formed a micro-lending group in his area. Most of the members are small business owners. He is the chairman of the group and a good leader. Johnson chose to work with BigDent because of the holistic work of Missions of Hope. He feels that his money is safe with MOHI and there is hope and opportunity to grow financially. He hopes to expand his business through future BigDent loans.
 
 

What a Difference You Made!

BigDent Microfinance 2014 Year-End Stats 
 
Total number of women and men helped to date: 4,114

(29% increase from same period last year)  

Total number of clients with loans outstanding: 1,200
(23% increase from same period last year)

Number of new clients this quarter: 218

Outstanding loan balance: $614,063

Number of new loans this quarter: 309
(72% increase from the previous quarter)  

Total amount of funds loaned out this quarter: $178,577

Loan repayment rate: 96%

Number of clients trained: 180

Number of potential clients currently in training meetings: 258

Total number of business accountability groups now: 204
(8 new groups added in the first quarter)

Total amount of money SAVED by clients to date: $417,665

Number of clients waiting for subsequent loans: 780

Number of clients who have completed training and await first loans: 580

Number of clients this quarter who reached a point of business sustainability and no longer need loans: 90

 

In Quotes

“Back in 2007 Kenya introduced one of the world’s first mobile-phone payment systems, called M-Pesa after the Swahili word for money. Digital payments are now so common that everyone from day laborers to grandmothers send money across the country via phone. Kenyans pay for groceries at checkout by tapping on their phone and avoid trips to the electric company by paying for power via mobile money. Some doctors even accept M-Pesa as payment – all via simple text messages.” – Heidi Vogt, “Making Change: Mobile Pay in Africa,” Wall Street Journal, January 2015
 
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