Mrs Lamin Laura Madaki, a business woman who accessed micro loan to grow her business
How long have you been in this business?
I have been in this business for over 8 years.
When did you start banking with HASAL?
I started banking with HASAL in 2012. When I joined HASAL, I was selling my goods in a garden. Within 2- 3 weeks after I opened an account with them, they offered me a loan of N500, 000 to uplift my business.
Why did you choose HASAL?
I chose HASAL because I needed assistance, they are the most assessable and easiest to meet in terms of assistance. When you go to them they will give you listening ears and within 2- 3 weeks highest they will assist you in terms of giving you loan.
How much did you start with and how many times have you accessed HASAL loan?
I started with N500, 000, that was my first loan with them. When I started with N500, 000, I was able to finish paying the money in 6 months, so the bank gave me N1million. From there I started getting N2million loan from them, after some time I was given aN5million which I used very well to increase my business and also paid up on time. By 2017, that is last year, HASAL gave me N6million and this year I am presently on N8 million loan.
What effect has the loans had on your business and your lifestyle?
HASAL has really assisted me because now my business moves faster than before. Before I used to be in a garden, now I have a warehouse. Before I don’t use to have enough goods and at times when you place order the order may be delayed and if you don’t have that extra money you will have problems but with HASAL’s assistance now we don’t lack goods as you can see,before this one will finish another truck will be outside delivering more goods. So HASAL has really helped me. I am now a major wholesaler.
What improvement do you expect to see in HASAL MFB in the future?
Really HASAL Microfinance Bank is trying very well in terms of giving assistance to business, giving of loans. But we need them to improve more in the area of the loan issue. As the business is growing, you need more money, but there are conditions attached to getting those kind of amount that the business really need. This is one of the things that is giving us concern, but I believe with time they will help us to look into it and that will make business move fast for us.
Mr. Utama Bredan sales Fabrics in Nyanya Market
My name is Utama Bredan and this is my shop.
What is the nature of your business?
I deal fabrics, silk fabrics, linen, satin, organza, and different types of tailoring fabrics. My shop is here in Nyanya market as you can see.
When did you commence business with HASAL MFB?
I started business with HASAL Microfinance bank in 2015 when I saw one of the staff of the bank always doing marketing in the market. The staff was able to convince me that the bank is willing to help me grow my business, so after a while, I opened the account with their Nyanya branch because most of my neighbors in the market were already banking with HASAL.
Did the bank finance your business as promised and when? How much did you borrow?
Yes, true to their words, HASAL did finance my business almost immediately. I started borrowing from HASAL in 2015.First of all, the bank gave me a loan of N150,000, after which I upgraded to N200,000. Presently I am servicing a micro loan of N400,000 only.
How do you feel about HASAL’s services?
I am happy with the bank because they never disappoint. I know I can depend on them to expand my business because each time I ask for loan, they always give me and on time too.
What do you want the bank to do for you in the future?
I want the bank to continue to meet up with my loan request each time I apply, because as a business man, opportunity can come anytime, also we have season for plenty sales. If you don’t have enough money, you will not buy enough stock and make credit. So if I know that HASAL will always be there for me, I can relax.
Joy Utulu owns Bakery Materials in Nyanya market
My name is Joy Utulu, I have a shop where I sell bakery materials in Nyanya market.
I joined HASAL in 2010 when I saw the bank’s staff always coming to the market to canvass for customers. They talked so much as helping small businesses to grow, so I opened the account with them.
In 2011, I asked for a loan of N200, 000 to stock my shop and that money was given to my surprise. It help me to meet up with some customer demands at that time. After paying back the N200, 000, I borrowed N500, 000 because my business was growing bigger. Then I later borrowed about N250, 000 to increase my products. Now I am presently collecting a new product called HELP. That is the HASAL Empowerment Loan Product.
One of the things I like about the bank is the interest they have on their customers and their business. Also, I like the way they show interest to give out loans to small business people like us, they are always eager to do so.
I expect the bank to do more for me in the future which is to continue to support my business in order to enable my business grow from where it is now.
2017 Success Stories
My name is Uche Anomihe, I sell groundnut oil and palm oil in Garki Market Abuja. I joined HASAL MfB when they opened a branch in the market. The bank is located directly opposite my shop so it was easy for me to transact business with them.
Today, this is the bank I use for my transfer to other banks if I want to pay my suppliers in the eastern part of Nigeria. So far, the bank has really helped to secure my money and make my business transactions smooth.
Basirat Sade Adepoju
My name is Basirat Sade Adepoju and I have a shop in Garki Market, Abuja. I sell biscuits of all kinds in wholesale.
I joined HASAL Microfinance bank 8 years ago when they opened a branch in Garki market, to enable me access loan to expand my business.
Before then I ran my business in a rented small shop until the bank gave me loan to buy my own shop. I have accessed numerous loans amounting to more than Five Million Naira (5,000,000.00) from HASAL to restock my goods.
To crown it all, I now own two shops in Garki market to enable me display all my goods in the shops properly. HASAL has really helped my business to grow.
My name is Maja Kudirat and I sell Childrenâ€™s Party Packs and clothing in Garki Market. I joined HASAL Microfinance Bank in 2009 because of their service excellence.
I opened HASUSU account so that an account officer can be coming to my shop to collect money every day.
Secondly, I have been accessing between N250, 000 to N500, 000 from the bank to restock my shop every year and the bank offers me convenient repayment plan for the period of six months.
Today, my business has grown, which has helped me to sustain my family and train all my children in higher institution.
2016 Success Stories
Mrs Idowu Rahamat Bolanle, a business woman who accessed micro loan to grow her business
My name is Idowu Rahamat Bolanle and I have a shop here in Durumi Village. As you can see I make cloths and sell tailoring materials. One of my customers introduced me to HASAL Microfinance Bank three years ago and I have been doing business with them.
I currently have Hasusu Daily Savings that allows me to do daily contribution. The product has really helped me to save money. HASAL staff come to my shop to pick cash and deposit into my account; this has helped save money regularly.
In addition, HASAL has given me loan six times. They started with N100, 000.00 which I paid back within Three (3) months. Twice they gave N100, 00.00. They have given me N200, 000.00 three times and I am currently enjoying a N250, 000.00 credits.
The loan access from the bank, I use it to buy tailoring materials in bulk, which other tailors come here to buy from me at a cheaper rate, instead of paying transport fee to go to the market themselves. I have also purchase 2 additional sewing machines.
Government should push more money into Microfinance banks so that they can help more small scale business owners like us to grow. You know this is the only way we make our living. From this business we feed our children, send them to school and take care of other things.
Alaja Bola a.k.a Iya Ilorin; owner of Iya Ilorin Restaurant
My name is Alaja Bola a.k.a Iya Ilorin. My business name is Iya Ilorin Restaurant and I have been selling food in Durumi village for as long as I can remember.
I have been doing business with HASAL for about two years and I have HASUSU Daily savings account. I save N4, 000.00 every day. Initially I buy items in piecemeal, until I opened account in HASAL Microfinance bank. Today, I easily access microloans, to buy goods such as; bag of Rice, Kegs of Oils, and Drinks in bulk which has increase my profit enormously. HASAL have given me N250, 000.00 loans three times.
I am currently on another N250, 000.00 micro loan and I have always paid before the expiration of the Loan tenor, I never defaulted because HASAL is using the Loan to help me and my business to grow.
Secondly, I enjoy convenience banking, the bank offers. I have an account officer who comes every day to pick cash and pay into my account which makes things very easy for me.
Lastly, Microfinance Banks are trying to help people grow their business but their interest rate is not as low as we what it to be. I am suggesting Government to give them money so that interest will reduce and they can help more small business people like us grow.