Microfinance working in Wales – Loan repaid early
Hunger Busters is a mobile catering business based in Glyncoch, one of the estates near to Pontypridd. Since starting in the Spring this year, it has become a well known feature of the estate and its founder Stephen Griffiths has turned it into a success story of which Purple Shoots is incredibly proud. Stephen was unemployed when I met him, and although he had gone out and got all the necessary qualifications and it was clear he had researched his business very well, he could not get funding from mainstream lenders – no assets, no track record, small amount needed – the usual reasons that exclude people like Stephen from the standard financial services. However, he has been so successful that not only has he not missed a single repayment since starting in April, he has just repaid the whole loan almost 9 months early. This is an amazing achievement – and great proof that people like him are well worth supporting!