VisionFund's Digital Loan Process Has Saved my Reputation and Integrity

In a small southern Indian village, Sudhat and Sadaippan, both aged 38, are a determined couple who set out to improve their family's future. Their journey began in 2012 when Sudhat took her first loan. The couple were embarking on a journey towards financial independence. They have taken out six loans over the years, which allowed them to build a future for their family. 

Back in 2012 when they took out their first loan, the loan approval process was tedious and time-consuming often taking 10 or more days. Documents had to be copied and taken to the distant town, a costly endeavor that consumed both time and resources.  

The delay often meant missed opportunities, like purchasing a cow whose price might have changed by the time the loan was approved. Sadaippan said, "If I need to buy a cow and I talk with a seller, by the time I got the loan, the price may have changed, or the cow may already have sold. And my reputation was tarnished because I wasn’t true to my word and didn’t have the money when I said I would.” 

Now, loans are processed rapidly, thanks to VisionFund’s streamlined digital system, the long wait times are no longer. Sudhat receives a SMS notification when her loan is approved and another SMS when the loan is ready for disbursement. This speed is critical, especially when making promises to sellers in the bustling livestock market.  

One remarkable aspect is the presence of a female loan officer named Mercy. She is not only patient but empathetic, making Sudhat feel more at ease discussing her financial concerns. Mercy provides guidance rather than just collecting payments. This support has been invaluable in steering Sudhat and Sadaippan through the ups and downs of their business. 

Sudhat's life has had its share of challenges. Her husband had been gravely ill, and the hospital bills had been a heavy burden. Their youngest son, born prematurely, required extensive medical care. While they may not have seen a huge change in their lives, the loans shielded them from falling into serious debt during these trying times. 

Their children's education, the most precious investment, was made possible with the income generated from their livestock. Their children, boarding school students, are their source of hope and pride.  

The story of Sudhat and Sadaippan is one of resilience, determination, and unwavering commitment to their family's future. Microfinance not only transformed their lives but also gave them the means to nurture their children's aspirations.