Sheila owns Gammy Investments, specialising in supplying local mines with mechanical spares among other things. When Sheila was having trouble fulfilling growing orders, she started looking for small business financing. She came to Inde Credit through word of mouth and was helped straight away.
In 2018 Inde Credit started helping Gammy Investments through Invoice Discounting so they could carry on with new orders. All went well for just over a year, but then COVID hit and Gammy Investments faced financial hiccups resulting in business decreasing drastically for about 2 years.
Sadly they were unable to make their debt payments, but Sheila’s integrity wouldn’t let her walk away from the debt. An agreement was reached allowing Sheila to pay back over time through the wages from her job.
Human relationships, understanding, and determination helped maintain the partnership between Sheila and Inde Credit. She tells of her experience of both frustration and appreciation. “My story is bittersweet because I defaulted and didn’t know how to come and talk about it. Initially it’s always all about signing and getting the money, but it would be good to get more financial literacy prior to signing a contract. I did revive my relationship with Inde Credit and I feel valued there, but there’s never a time when a business couldn’t use financial assistance or education” she says. Through Sheila’s continued relationship, she has helped push Inde Credit to assist potential and current clients with more tools and support to manage healthy, growing businesses.
Sheila still runs her business and foresees needing the services of Inde Credit in the future. “Zambia is not an easy place for SMEs to access financing, especially from typical commercial banks. They demand too much collateral from start-ups and small businesses. Inde Credit makes it easier for businesses still trying to find their feet,” she explains.
