9th July, 2008

Ujjivan's First Two Male Customers

Ujjivan opened its second IBL (Individual Business Lending) branch at Whitefield on the 22nd of June, and disbursed loans to its first two male customers. The customers, Rajan and Sheikh Mohiddin, took loans in the amount of Rs. 25,000 and Rs. 30,000 respectively. CEO Samit Ghosh and Executive Director Ajit Grewal were both in attendance for the branch opening and loan disbursements.

Rajan owns and operates a tea shop; selling tea which he gets wholesale from Ooty, as well as coffee powder. He intends to use the funds to expand his inventory and start buying tea in bulk. This will allow him to save on transport costs, as well as overall cost of goods. He hopes to eventually purchase a coffee machine for his shop.

Sheikh Mohiddin owns a chicken center as well as a vegetable stand. Because the area in which he operates is becoming more developed and affluent, he has taken a loan to improve the appearance and cleanliness of his shop. He intends to use the funds to install a glass-front for his shop, as well as improve its inside appearance.

CEO Samit Ghosh gives loan to Rajan

Executive Director Ajit Grewal and CEO Samit Ghosh talk to Sheikh Mohiddin

Mr. Ajit Grewal performs branch ribbon-cutting

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