In the beginning, Muhammad Shoiab’s mobile textile business generated only a very little revenue. It was so little that he was not able to send his children to school. Nonetheless, Muhammad believed in himself and his business and decided to apply for a loan at ASA Pakistan limited.
With his first loan of 100,000 Pakistani Rupees (~USD 624) in 2014, he was able to grow his mobile textile business into a small fixed-store location. Over time, Muhammad was able to demonstrate his ability to manage debt and was therefore able to gradually increase the amount of debt he could take out to Rs. 300,000 (~USD 1,872). Thereby he further expanded his business such that he was eventually able to send his children to one of the best schools in the city.
We at Enabling Qapital are proud to have partners like ASA Pakistan, to enable microentrepreneurs such as Muhammad Shoiab together.