Who does MAYA serve?
MAYA lends to women who have set up their own small business, as well as those who are planning a small business venture. Borrowers are usually from low income groups. 66% are engaged in trade, 26% in production and 8% are in services. Businesses range from making and selling food, making or mending clothes, handicrafts, hairdressing and selling goods from home. 74% of the businesses are based in the borrower’s home; the rest operate out of neighbourhood markets, mobile sales stands or small shops. Small business owners need access to financing to increase the scale of their operations, buy fixed assets or meet their operating expenses. Loans are normally only available from wholesalers for the purchase of a specific product; or from banks but these are usually for amounts of 1000 Turkish Lira or over, and require two guarantors if the business is not part of the formal economy. 80% of these small businesses are either not part of the formal economy or cannot find guarantors.