FINCA Helps Clients Beat the Odds During the Pandemic
For many females in the Global South, running a small business, hiring staff, ordering inventory, and generating sales, which was once a dream, is now a reality with the help of FINCA and their micro-financing loans. However, the pandemic resulted in increased pressures and hurdles for the smooth flow of their business operations. For example, for small businesses in the Democratic Republic of Congo, there was a considerable decline in sales, difficulty retaining staff, supply chain issues and many inventory delays.
One of those small business owners was Eugénie Kabeya, a seamstress who, with FINCA’s help, built a women’s clothing company and employed 12 staff. Unfortunately, in the first month of the pandemic, Eugénie lost 70% of her monthly revenue, and she had to let go more than half of her staff.
Eugénie pivoted her business model, and with the help and guidance of the local FINCA branch, she began producing masks to meet the high demand in her community. Through word-of-mouth and creating an online presence, Eugénie’s business was thriving once again. She even re-hired two of the staff she had to let go at the beginning of the pandemic!
Eugénie has been a member of FINCA International since 2003 and has used their microfinancing services to become a successful, independent female business owner. She is grateful for FINCA’s assistance and guidance during these difficult times and happy she can continue to operate and employ others in her community.
FINCA loans are made possible through partnerships and donations by generous donors.