Posted on 02/12/2024 by Evolve in Blog
Muhammad Riaz is 45 years old vegetable seller. He lives in Lahore with his wife, four sons and a daughter. Three of his sons are studying at school, while his older son works and earns around £52 monthly. His wife and daughter manage the household.
Muhammad Riaz's vegetable sales business has been his livelihood for 13 years. He purchases fresh produce from farmers and sells a variety of vegetables, including potatoes, tomatoes, garlic, and ginger, to his local community at market rates. Despite his efforts, his monthly income remains limited, at approximately £56, which he must carefully allocate to cover personal and household expenses, leaving little room for savings or expansion.
Muhammad Riaz's vegetable sales business is facing a new challenge due to inflation, which has led to a surge in fixed costs, making it difficult for him to restock. To address this, he has applied for a loan to replenish his inventory and adapt to the changing market conditions. This loan will help him navigate the inflationary pressures and maintain his business's momentum, ensuring he can continue to provide for his community.
