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Malika Anjuli is a produce vendor. Every day she rises at 4 am and walks to the market to buy as many vegetables as she can afford. She returns with the vegetables to her lean-to where she wakes up her three children, prepares breakfast, and tidies her home. Malika then sweeps and prepares the area in front of her hut where she lays out a blanket and displays her produce for sale. Generally, Malika sells out her vegetables - string beans, potatoes, and, sukuma weeki, a type of spinach - by mid-morning. She could sell at least twice as much on any given a day but is unable to because she does not have enough money to buy more produce. Malika could go to the moneylender but the interest rate is higher than the profit she can make and would put her into debt rather than help her to develop a larger capital base. Malika cannot go to a traditional bank because she has no collateral, she is illiterate, and the amount of money she needs to borrow is too small for a bank to consider. Malika only needs the use of another ten dollars in order to buy enough produce to double her sales, and maximize her earning potential and her profit margin. If she could have access to a reasonable loan with reasonable terms, Malika could build a financially strong and sustainable future for her and for her children.
The Global Circle | A Typical Borrower
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