How Babita & Malke Mondal Built a Business Empire with FDA’s Support
Background
Subjects: Babita Mondal (FDA member for 16 years) & Malke Mondal
Location: Rural Faridpur, Bangladesh
Initial Condition: Struggling family with limited income opportunities
The Challenge
In 2007, the Mondals:
- Relied on small-scale trading with inconsistent earnings
- Lacked capital to expand their paint/polythene sheet business
- Had no assets or formal business structure
FDA’s Intervention
- First Loan (2007): 50,000 BDT for:
- Raw materials for paint/slab production
- Basic business tools
- Subsequent Support:
- Progressive loans up to 600,000 BDT
- Business advisory services
- Market linkage facilitation
The Transformation
Business Growth:
| Year | Loan Amount | Business Expansion |
|---|---|---|
| 2007 | 50,000 BDT | Paint/slab production |
| 2015 | 200,000 BDT | Added wooden furniture workshop |
| 2020 | 600,000 BDT | Launched rice trading + transport fleet |
Current Assets:
- 3 trucks
- 1 auto-bike
- 25 employees
Socio-Economic Impact:
- Children’s education secured
- Created jobs for 25 families
- Local supply chain strengthened
Key Success Factors
- Progressive Lending: FDA’s increasing loan amounts matched business growth stages
- Diversification Strategy: Wise use of loans to spread risk across 3 businesses
- Work Ethic: The couple’s relentless dedication (working 16-hour days initially)
Conclusion & Implications
The Mondals’ journey demonstrates:
- How tailored microfinance can break poverty cycles
- The multiplier effect of rural entrepreneurship (job creation, education)
- FDA’s sustainable model of progressive support
“We went from counting pennies to creating opportunities for others. FDA believed in us when no one else did.”
– Babita Mondal
