Rural woman builds laundry business with microfinance support

Metro India News | Hyderabad

Microfinance is helping women in rural Telangana become financially independent by enabling them to start small businesses and improve their livelihoods. Belstar Microfinance Ltd, an RBI-registered Non-Banking Financial Company-Microfinance Institution (NBFC-MFI), is supporting women entrepreneurs through collateral-free loans for income-generating activities.

One such beneficiary is 35-year-old Mounika, who transformed her laundry skills into a successful business with financial assistance from the company.

Mounika's family depended mainly on her husband's daily-wage income, making it difficult to meet household expenses. Though she had learned laundry work over the years, she lacked the money to buy the equipment needed to start a business.

After receiving a loan from Belstar Microfinance Ltd, she purchased an iron box and other essential tools and launched a laundry service in her village. Starting with a few customers, she gradually built a loyal customer base, particularly among local women.

The additional income has improved her family's financial condition and enabled her to enroll her son in a better school. Mounika said the financial support gave her the confidence to become self-reliant and contribute to her family's future.