Tissie Mbayo is a widow. Living in a remote village of Malawi, the death of her husband left her struggling to provide for her large family.
Coping with a loss
After Tissie was widowed she became the sole provider for eight dependants including her children and grandchildren. Not only had her children lost their father, but she was now financially vulnerable and unable to properly provide for them. She knew she had to find support so that her family wouldn’t go without the basic necessities.
Before joining a MicroLoan group in 2012 she took out a loan with another microfinance organisation to set up a grocery shop but she found it difficult to cope with their interest rates and this left her unable to keep her shelves at the shop filled. The business was struggling and didn’t provide Tissie with a sufficient income. This meant that her hopes for a brighter future remained unattainable.
“I want to build my own house and not rent anymore. But it is just a dream.”
-Tissie Mbayo, 2012
With the support and training offered by MicroLoan Tissie has been able to develop her grocery shop into a successful business.
Tissie currently has a bridging loan, one of the larger loans types that MicroLoan provides. These are only offered to our most successful entrepreneurs who can demonstrate they have a strong business model. Our bridging loans allow women to access greater levels of capital so they can invest more into their business and see it grow. With these greater financial resources Tissie has been able to expand her stock and her shop has now become an important community hub.
It has been 5 years since Tissie took out her first loan with MicroLoan and her business continues to grow from strength to strength. She now makes a weekly profit of around MKW 50,000 (£50). Tissie wants her business to keep expanding so that her children and grandchildren have better opportunities and do not face the same challenges she did.
“I would like to thank MicroLoan Foundation, you are good teachers and you have given me a lot. I have managed to boost my business and save a lot so now you can see that I have security.”
– Tissie Mbayo, 2016
Creating brighter futures
Tissie has now build the home she hoped for, it has enough room for her large family, and she is fortunate enough to be able to afford to have electricity thanks to her profits.
It is because of your support that we have been able to help Tissie make her dreams a reality.
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