33-year-old, Sarika Santosh Mandhare, faced a setback in her quest for financial freedom when her husband had a life-altering accident. Forced to leave her high-paying job as an accountant to care for him and their daughters, Sarika’s dreams seemed distant. However, with the help of Mahila Money capital support, she not only cleared her debts but also expanded her LAN cabling business, establishing a stable income source for her family.
Sarika’s Courageous battle to become Financially independent
Sarika always dreamt of achieving financial independence. She worked hard and made a name for herself before she had to put her career on hold when her husband met with an accident in 2013 and went into a coma. He was running a LAN cable business, and Sarika had to step in and take over the company’s reins to stay close to her family. Running a cabling business was a challenging task, especially for someone who had no prior experience in the field. However, Sarika was determined to keep the company afloat and provide for her family. She was caught in a debt trap as she had to manage household expenses, take care of hospital bills, and run the business all on her own.
Speaking about her struggle, Sarika said, “Running the business alone was very difficult. There were times when I did not know how to keep things going. It was a constant battle between looking after my husband and running the business. The mounting hospital bills and household expenses only added to my financial burden. I knew I needed help but did not know where to turn.”
Unlocking Growth with Mahila Money
Sarika’s business had growth potential, but the lack of capital hindered her expansion plans. She had to turn down potential clients due to a lack of funds and could not clear her bills on time, affecting her business’ reputation. Sarika’s financial struggles were taking a toll on her mental health, and she was on the verge of giving up. That’s when she came across the Mahila Money app on Playstore — a fintech platform that provides productive loans to women entrepreneurs. Sarika gave it a shot and applied for a loan through the app.
Clearing Debts, Boosting Growth, and Delighting Customers
Sarika applied for a loan of 1 lakh from Mahila Money which got approved. The loan helped her clear her GST bills, and she could take on new clients without worrying about the lack of funds. Her business began to pick up steam, and she was generating good income.
“The Mahila Money Loan helped me clear my debts and gave me the much-needed capital to grow my business. I was able to invest in new equipment, which helped me provide better services to my customers. The loan process was hassle-free, and the interest rates were reasonable. I was pleasantly surprised at how quickly I received the loan amount.” — Sarika Mantosh Mandhare
Second Loan Clears Bills and Propels Family Business to Success
The success of the first loan motivated Sarika to apply for a second loan of INR 58K, which she used to clear her other bills. With Mahila Money’s support, Sarika could grow her business and provide her family with a stable source of income.
The impact of the business loan on Sarika’s life was transformative. She not only kept her family business afloat but also paved the way for a brighter future. Her husband has recovered and has joined her back in the business, and they are inching towards better days now with their hard work and dedication.
Expressing her gratitude, Sarika added, “I am grateful to Mahila Money for believing in me and my business. The loan helped me achieve financial freedom, which I thought was impossible at one point. The loan process was smooth, and the team was always available to help me with any queries. I can now provide for my family, and my daughters can continue their education without any financial stress.”
Sarika’s remarkable #JiyoApneDumPe journey serves as an inspiration to countless women entrepreneurs across India, igniting their aspirations for financial freedom and independence. Mahila Money remains committed to the vision of helping women entrepreneurs like Sarika by providing financial support along with entrepreneurship resources to turn their dreams into reality.
