From One Small Café to a Chain of Three

My journey with Fana SACCO began in 2017 when I was operating a small coffee cart near a busy office complex in Addis Ababa. I had always dreamed of owning a proper café, but traditional banks wouldn't consider my loan applications due to lack of collateral and formal business history.

A friend recommended Fana SACCO's "save first, then loan" approach. Initially skeptical, I decided to give it a try and opened a business savings account. I committed to saving 15% of my daily earnings, which wasn't easy but became a habit over time.

The First Step: Building Savings

For eight months, I maintained consistent savings while also attending Fana SACCO's free financial literacy and business management workshops. These sessions helped me develop a proper business plan and understand financial statements, skills I had never formally learned

By early 2018, I had saved enough to qualify for my first business loan of 200,000 Birr. The interest rate was 14% - significantly lower than what other lenders offered to small businesses like mine.

Expanding the Business

With this initial loan, I secured a small permanent location and transformed it into "Abebe's Coffee House." I invested in proper equipment, hired two employees, and expanded my menu beyond just coffee to include light meals and pastries.

The business thrived, and I continued my savings habit while making regular loan repayments. The SACCO's business advisors provided ongoing guidance, helping me navigate challenges and identify growth opportunities.

In 2020, despite the pandemic, my consistent financial record with Fana SACCO qualified me for a second loan of 350,000 Birr to open a second location. The SACCO worked with me to structure repayments that accommodated the uncertain business environment during COVID-19.

Where I Am Today

Today, I operate three café locations across Addis Ababa, employing 15 people full-time. My monthly income has increased fivefold compared to my coffee cart days, and I've been able to provide educational opportunities for my siblings and build a home for my family.

Beyond the financial growth, I've gained confidence as a business owner and developed a network of other entrepreneurs through Fana SACCO's community events. I now mentor new members who are starting their entrepreneurial journey.

The "save first, then loan" model taught me financial discipline that extends beyond my business. I continue to save consistently and plan strategically for future expansions, including a potential coffee roastery to supply my cafés and other businesses.