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Microfinance service help farmers to realize their dreams

Posted On:2012-04-19

hero of the story:Li Shuanmin, Yongji microloan customer,July 2010

Li Shuanmin and his wife, who reside at Chengxi Str. of Yongji City, made an inquiry about loan granting by phone when he was told that a microloan company had been set up at Zaizi Village, Puzhou Town, just as a try. The company’s staff member on duty briefly explained to him the company’s related procedures and rules, and asked him to come by to fill out an application form, following which a credit officer of the company would pay him a visit and elaborate on the related issues. But he said, “I won’t come over; it’d better you come here. I’ve got out and around over and over for the loan, but none of those visits worked out. You may come here to see whether my conditions have met your criteria, and then I can come over if they are.”

The weather was cold as it could be in December. Shang Qianqian, a credit officer of Fuping, dropped by the village to learn something about the Li Quanmin family by taking the opportunity of a follow-up visit to customers. She was told that Li Quanmin was indeed a plain farmer who lived at his orchard around year, only going back to home when Spring Festival to have a family get-together with his children. The officer investigated his conditions in more details, and then immediately called Wang Bian’e who is the credit director to come along to join in the investigation as soon as possible. Wang hurried to the village within half an hour, and arrived at Li’s orchard by following the direction pointed to by other farmers.

At the orchard, Li Quanmin quickly arranged the seating and presented his fruit to the visitors when he learned that they were from Yongji Fuping Microloan Co. “We have four members in the family. Our son has graduated from college and my daughter will also graduate from high school soon; we owe a lot of debts for the cost of our children’s education, ” he took the initiative to introduce his family conditions. “We planned to borrow some loans to raise our goats and expand our orchard, but all our attempts failed. I did not expect it at all that you come over so soon after I made the call to you. ”

The honesty and plainness of Li Quanmin only made the credit officers trust him even more. After further inquires about his family conditions, the credit officer help him fill out the application form, and the credit director confirmed on the same day that a loan of RMB 7,000 could be granted, asking the couple to go to the company and complete the loan procedures the next day. That was a real surprise for the Li couple, as they could hardly believe it.

The couple were busy in the orchard when the credit officer Shang Qianqian paid them a follow-up visit this summer. “We built a goat pen with your loan; we now have 53 goats from40 inthe last year, and the apricot trees in our orchard grow especially well this year with the fertilizer of the goat excrement, generating a revenue of RMB 18,000 already,” the wife said. “My daughter would have been able to go to the college instead of the occupational school for the money sake ifyour company had been set up earlier,” added Li Quanmin.