Muhammad Waheed

Loan description:

Muhammad Waheed is 23 and single. He lives with ten family members in a rented house in the city of Lahore. The household is comprised of his father, mother, three brothers and five sisters. His father is a laborer in a local factory and earn 10,000 rupees per month (about £65), while his mother has a specialised embroidery or 'salma sitara' business and earns around 3,000 rupees per month (around £19). Muhammad Waheed Sahib works two jobs to help make ends meet. He is a labourer in a factory and also works part-time as a shop assistant in a clothes store. From the two jobs his combined income is around 12,000 rupees (about £78) per month. Six out of eight of his siblings attend school and this is one of the main burdens on family finances because of tuition fees. Muhammad has acquired considerable experience in the retail garments business. He is confident that he can make a success of his own clothes shop and requested a loan from the microfinance organisation Akhuwat in order to help him achieve this. Once he establishes the store he estimates that his monthly income from this alone might be at least in the region of 17,000 rupees per month (about £111).