However, one challenge he faced was an absence of available capital which limited him to crafting one piece at a time. As a result, he had to wait for the initial piece to be sold, so that he could then invest a portion of the proceeds to make the next piece to sell, and so on. You can imagine how this process slowed the growth of his business, and how it limited his ability to increase his income and build a client base.
 

Fortunately, Peter was introduced to us during the summer of 2020 and he applied for a 50,000 L.E. loan to provide him with the capital needed to grow his business. After interviewing him and studying his business plan, we recognized his immense potential and approved the loan.
 

Once he received the loan, he rented a workshop, and bought the necessary machines and materials. He hired 2 people from his community and immediately started working with a variety of metals. He started by sculpting small, sophisticated decorative pieces, and eventually progressed to manufacturing fences, doors, furniture, and everything in between, ultimately offering his clients a variety of merchandise that fulfills all their needs.

 

We are delighted to report that his business is flourishing in a high demand market with no competitors. Peter’s income will soon be four times his former salary, allowing him to provide his family an improved quality of life and enabling him to successfully pay his loan installments on time. Through our business curriculum, Peter also learned how to properly manage his personal and business finances to prepare himself for fluctuations in demand and save for rainy days.

We are very proud of Peter, and we are confident he will inspire the youth in his community to strive to reach their full potential. 

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