Featured Photo: Supporting small business in India with microloans
(Photo Credit: Charles Stadtlander)
Entrepreneur Neelam Devi, pictured with her husband, holds a sheet of silkscreened tags created in her small screen-printing business in Patna, India. Once only contracted with clients in their small neighborhood, now has contracts more than 100 miles away. With a microfinance loan from OPIC partner client Ujjivan, the Devis have expanded their business and have been able to earn more income to support their family.
OPIC, together with Citi, provided financing to Ujjivan to support lending to small businesses that were unable to obtain traditional financing. Ujjivan loan officers are able to make house calls and with mobile technology, they are able to do the preliminary application process in the borrower’s home.
One of the main ways OPIC supports development is by supporting microfinance lenders and other financial intermediaries that can expand lending to people who cannot access traditional financing.Learn more about Ujjivan
