Developing a Furniture Business
Having learned all there is to know about wicker furniture making from his father, Taher opened his own workshop in 2007. By 2012, demand was so strong that his business had grown to three employees – including Taher.
Still, more customers kept coming. He needed capital to not only respond to current demand but to meet the potential future demand.
At first, he was convinced that his requirement would exceed the scope of a micro finance organization. When Taher finally met with the staff at FINCA Jordan, which specializes in home-based businesses, they went through the numbers with him and tailored a solution to his needs. As a first step, FINCA arranged a loan of USD 4,200 so that Taher could procure the raw material he urgently needed, and hire another employee.
The first loan cycle is underway and on track. Already, Taher is considering taking up another loan after the first one is repaid. The fresh capital injection will enable him to move his workshop to a larger premise in a commercially more vibrant area. Demand is still growing, and he is confident that his business will sustain at least five employees in the medium term. Since FINCA Jordan also works with small and medium enterprises, it looks like the partnership with Taher will be a lasting one.