Here’s How FINCA Bank is Enabling Small Business Owners with its Loan Programs

Samina Yasmeen has been running a stitching business out of her home for 25 years. She has a steady income stream, clients who love her, and a reputation for excellence. However back in 2018, she found herself unable to secure a loan for scaling up her business.

She isn’t the only one. Tens of thousands of small businesses across Pakistan have solid unit economics but aren’t part of the formal banking system, making it difficult to secure loans. Fortunately, though, Samina had heard about FINCA Microfinance Bank through an acquaintance.

Two years ago, in dire need to expand her business, Samina applied for a loan from FINCA bank. This was her second time. The bank was very cooperative and within a space of two days, she got the money in her account. FINCA offers a variety of loan products; ‘Niswan Karza’ is one such product specially designed for women where the terms and conditions of acquiring a loan are made even easier.

Talking about loan repayment, Samina said that it was very easy to pay back the loan.

The terms were favorable and I could easily pay it back from the higher earnings the business was able to produce because of the investment. If you need money, talk to FINCA and they’ll guide you and explain the best option.”

Even in the wake of the current pandemic, FINCA has been supporting its customers to maintain financial stability by offering them the facility of deferred loan payments; whereby existing borrowers can repay loans at a later time or have their loans restructured; with the realization that businesses have been gravely affected during these challenging times and that the customer always comes first!

Samina Yasmeen, like many other customers, uses the loan amount as a financial buffer to smoothen operations of their businesses with peace of mind. Samina is now earning a good livelihood for herself and also providing earning opportunities for other women who work for her. She also emphasized that women in Pakistan need to learn to work independently and utilize services like FINCA if they need capital investment for expanding their businesses further.

For the last 30 years, FINCA has been enabling people to reshape their lives by providing them modern and innovative banking solutions in 20 countries around the globe.

FINCA Pakistan currently has a nationwide network of over 132 plus customer touchpoints in 120 cities. Currently, FINCA Pakistan has about 238,000+ borrowers and offers a wide variety of quick and easy loans, with minimal documentation which is their key USP. FINCA’s main vision is the financial inclusion of underprivileged people.