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Asha Gond's dream was to open a cosmetics store in her home state of Uttar Pradesh.
But after getting a loan of about $450,000 from Rang De, a social investment platform in India, she was able to open her own tailoring center and re-purpose her old cosmetics store into a thriving business, reports the Hindustan Times.
"I used the loan to start my own tailoring center and sell my products to my customers," says Gond, who also received training from Rang De.
"I am confident that my business will continue to flourish."
More than 13,000 women in rural India have received loans from Rang De since it was launched in 2016 and more than 13,000 of them have been directed to women investees, the company says in a press release.
But it's not just women who are benefiting from the program.
"We've witnessed remarkable success stories where communities receive credit for the first time, instilling financial support and the confidence to initiate businesses," says co-founder and CEOmita Ram.
Rang De works with communities " excluded from microcredit due to their high costs," including high interest rates and poor credit scores, Ram says.
The company also works with first-time women borrowers, building credit scores for 6,800, per the press release.
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