| Bank ESAF Small Finance Bank |
| Client Shyju |
| Location Mailippadam, India |
Mr Shyju lives with his parents in a small home in the village of Mailippadam, Thrissur. Shyju’s father started a shop – “Rohini Stores” in the mid-1980s in their hometown for grocery products, bakery items, vegetables and stationary items. As Shyju’s shop attracted more and more customers, he had to expand the inventory, so he decided to take out a loan from external sources.
Once he required more funds, he turned to public sector banks and also some new generation banks and soon he found himself caught up in innumerable calls and documentation and it was an extremely time-consuming process. Shyju then turned to ESAF Small Finance Bank.
“There was no hassle in terms of any lengthy paperwork or verifications, the ESAF customer service team has been extremely efficient and customer-centric”. The entire loan procedures were completed within two weeks and loan was provided within one month, he said. ESAF SFB extended an ` 800,000 Business Loan to him in 2018. He expanded the inventory and purchased materials and other supplies for the business at wholesale rate in order to save money. Besides, he also used the loan for floor and terrace work of his shop and built rooms on top of the shop for additional rental income. Today he earns an average amount of ` 3000 per day from business and an additional ` 25000, per month as rent. Shyju thanks ESAF SFB for building him up as an entrepreneur.