Leaving office job to start own business

“I have found it easy to apply for a loan with ASGB. I did not need to provide complex and hard-to-get documents. Even if I may lack a specific document that is required to apply for a loan, ASGB staff help me look for alternative solutions. I enjoy the smooth service and would like to continue to work with ASGB.”

In 2013, Ms. Yi Yi Tin, a customer of Pazundaung branch opened a grocery shop in Yangon. She used to work as an employee at a bank, decided to resign, however, and started her business to pursue her interest in cosmetics and sales. Initially, she sold some Myanmar traditional medicines only and gradually added cosmetics and consumer goods to her shop. “Silver Moon” (Ngwe La Min) is both the name of her shop and the name of her daughter. In the Yankin market place, we can find her shop with a blue sign board which features a picture of her daughter. Ms. Yi Yi Tin said “I am a single mother. My daughter and I have been depending on this business. I would like to grow my business because I would like to give my daughter a good life.”

Currently, Ms. Yi Yi Tin runs three shops in the Yankin Market place. When she moved her shops to a new place, she faced with a challenge resulting in the disconnection between her shop and her customers. Few consumers visited her shop because the majority of her customers were unaware of the new shop location. At that time, her friend who runs a shop in the same market and is a customer of Pazundaung branch, recommended her that she apply for a loan with ASGB. Ms. Yi Yi Tin knew of ASGB for a long time but never had the opportunity to collaborate with us. Given that she was having the business problem, she decided to take up a loan from ASGB.

The majority of the loan was spent to purchase Myanmar traditional medicine. Ms.Yi Yi Tin set aside some amount of money every day for a monthly loan repayment to make sure that the repayment is made on time. Her Myanmar traditional medicine and cosmetic shop is operated by Ms.Yi Yi Tin and her two sisters. She orders the majority of stock items over the phone, and only occasionally source products from wholesalers. She smiled and said “even though I am a shop owner, I’ve never been to Nyaung Pin Lay Market, a popular whole sale market in Yangon.”

Ms. Yi Yi Tin also expressed her gratitude to ASGB because the loan came in handy at a time when she was experiencing the trouble finding customers due to the relocation of her shop. Thanks to the loan, her shop is doing better over time. She said “I have found it easy to apply for a loan with ASGB. I did not need to provide complex and hard-to-get documents. Even if I may lack a specific document that is required to apply for a loan, ASGB staff help me look for alternative solutions. I enjoy the smooth service and would like to continue to work with ASGB. I have a plan to further grow my business by offering stationery and accessories for women.”