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How BharatPe helped Birender Kumar open a second store after 7 years
Meet Birender Kumar, a young business owner in Gurugram, who was struggling to scale his business through traditional means, due to the COVID-19 pandemic. With the support of BharatPe’s fintech solutions he found a way to not only expand his kirana store from one to two, but also realise his future plans!
The Challenge
Birender had the aspiration of opening a new shop but just when he thought he was ready, the pandemic became an unprecedented roadblock in his path. He hesitated to ask for financial help from banks as the same meant many rounds to the bank, lot of paperwork and still no assurance of the loan getting approved. He was also distraught by the fact that the traditional banks and financial institutions were shying away from giving out loans, thanks to the uncertainty across businesses, triggered by the pandemic.
While Birender had decided he would scale up his business by opening a new shop, COVID-19 was playing spoilsport. Also, Birender was not very sure of the success of his new venture, owing to the COVID-19 restrictions. He was looking for a way to not only expand, but also be able to sustain his business during uncertain times.
The Solution
In January 2020, Birender availed the first loan of Rs. 20,000 through BharatPe to buy supplies for his first shop. As a user of the BharatPe app, he realised that he could easily get another loan and open another shop without the hassle of physical documentation as well as other troubles that come with conventional banking. With 100% online processes, he did not have to be worried about closing his shop or making multiple visits to the banks, and that too in the middle of the pandemic.
Birender was able to get another loan for his new shop in March 2020. His new shop is located in a small village in DLF Phase III, Gurugram. The shop has a variety of supplies and accepts all forms of digital payments. Birender was particularly inclined towards ensuring that digital modes of payment are available for his customers, since payments in cash weren’t preferred, due to the pandemic. Digital payments also made it much easier for his customers to pay quickly, instantly, and without the need to have exact change.
Birender’s shop flourished during the pandemic. His business has grown many times over the two waves of the pandemic. Despite the everyday challenges that continue to arrive unannounced, Birender’s business is doing well and he continues to take care of his family comfortably. Birender attributes his success to his loyal customers who trust his dukandari and the ease of digital payments.
The Outcome
Birender used the loan availed through BharatPe to set up a new shop in Gurugram. With BharatPe, he has not only been able to offer convenience of digital payments to his customers even in the pandemic, but also has been able to expand his business in these turbulent times. His earnings have grown manifold- because of two shops as well as digital payment acceptance facility.
In fact, BharatPe is his preferred lending partner for the next venture- whenever he plans to launch it!
Listen to Birender Kumar tell his story of digital empowerment.
