Victor is a BMI client since 2010 September. His first loan from BMI was LKR 25,000. His business is purchasing spice crops from the farmers in the area in bulk and selling them to outside merchants. He used the first loan money to purchase the goods and transport them to required places for selling.
He then obtained a second loan of LKR 50,000 from BMI , to increase the amounts he buy and reach more customers. Now he has applied for the third loan of LKR 75,000 in order to further improve his business. He plans to use the money to buy unprocessed spices and process them in his home. He reckons that this is profitable since the unprocessed crops are cheaper than the processed crops. He also has found that processing at his cost is much more profitable than buying the processed crops. His present income is around LKR 45,000 per month.
Victor lives in the rural village called Udanage, with his family. He has one son and a daughter. His wife is not employed but helps him in his business in part time basis. His son is employed as an army soldier. Victor is an experienced merchant who has around four years of experience in the trade. Thus, he is confident that he can succeed in this business. Victor hopes to be a reputed spice merchant in the area and earn a higher income for his family.