Introduction: Jothi, a 35-year-old resident of Elapakkam village, alongside her 38-year-old husband Prabhu and their two children, initially faced financial challenges as daily wage workers. Their lives took a positive turn when ASSCOD introduced them to the Omega Micro Loan Program, offering a chance to break free from the cycle of uncertainty.
Challenges Faced: Before the intervention, Jothi worked as a 100-days laborer, and Prabhu earned a daily wage. The family struggled to meet their basic needs with inconsistent income.
The Intervention: Motivated by the prospects of the Omega Micro Loan Program, Jothi decided to invest in a pregnant cow using the loan. This strategic move aimed to provide her family with a reliable source of milk for consumption while creating an opportunity for additional income.
Investment and Results: With the micro loan, Jothi acquired a pregnant cow, which later calved, yielding an average of 4 liters of milk per day. Jothi smartly allocated 1 liter for her family’s use and sold the remaining 3 liters to a local vendor at Rs.50 per liter. This resulted in a monthly income of Rs.4500.
Financial Sustainability: After deducting the monthly expenses of Rs.2000 for the cow, Jothi realized a monthly profit of Rs.2500. This surplus income became a pivotal resource for loan repayment and covered the family’s household expenses.
Impact on Family Life: The additional income significantly improved the family’s financial stability, leading to a more peaceful and comfortable life for Jothi, Prabhu, and their two children.
Gratitude towards ASSCOD and Omega: Jothi expresses sincere thanks to ASSCOD and Omega for their transformative micro loan program. The initiative not only empowered her to become an entrepreneur but also allowed her family to thrive in newfound financial stability.
Conclusion: Jothi’s case exemplifies the positive impact of targeted micro loan programs in empowering individuals to create sustainable livelihoods. ASSCOD and Omega’s intervention has not only changed the trajectory of Jothi’s life but has also contributed to the overall well-being of her family, highlighting the potential for positive change within communities through thoughtful economic empowerment initiatives.