Morma Devi and four entrepreneurs, Bansidih
Loan requested $911.16
Loan issued $911.16
Funds raised $501.14
Funds released $0.00
Sector Services
Repayment term in months 18.0


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About Morma Devi and four entrepreneurs, Bansidih

Morma Devi (Photo 1) sitting second from right runs a small beauty parlour. She wants to expand her business and buy some cosmetics and equipment as her customers are increasing. And so she has applied for a micro loan. She has five members in her family including two daughters and one son who attend school. Her monthly income is Rs 2000/- (USD44). She is the group leader who organizes monthly meetings and ensures that all repayments are made on time. Mina Devi (Photo 2) sitting first from right runs a small restaurant with her husband. She wants to increase the size of the restaurant, so she has applied for a micro loan. She has three members in her family including one son who is also helping in her business. Her monthly income is Rs 2000/- (USD44). Lalita Devi sitting in the middle of the group photo runs a tailoring business from her house with her husband. She has earned a good name in her locality for her excellent work, hence her customers are increasing. She wants to buy two sewing machines and hire two persons, so she has applied for a micro loan. She has five members in her family including one daughter and two sons who attend school and her monthly income is Rs 2500/- (USD55). Sobha Devi sitting second from left runs a small restaurant. She wants to expand the size of her restaurant so that she can serve more customers and hence applied for a micro loan. Her husband helps her in this business. She wants to earn more to fulfill the growing demand of her family and she also wants to save something for the future. She has six members in her family including two sons and two daughters who attend school and her monthly income is Rs 3000/- (USD66). Meena Devi sitting first from left runs a small stationary shop. Her customers are increasing by the day and so she wants to expand her business to earn more profit. She also wants to save something for the future and hence applied for micro loan. She has six family members including three daughters and one son who help her in this business. Her monthly income is Rs 2000/- (USD44). These entrepreneurs are very dedicated and want to do good for themselves and their families. They understand the concept of Joint Liability Group. In case any member is unable to repay the micro loan, they will pay on the behalf of the member whose loan is delinquent. The entrepreneurs in the group support each other through the joint liability concept. Note: In the entrepreneur names you may find that several last names are repeated e.g. Devi, Bibi, Kumari. These are not last names as commonly understood but respectful ways of addressing ladies in certain parts of India.


Partner MFI
Name: Ajiwika Society Ownership: Non-profit
Year Founded: 2006 Credit Risk Rating: Beta Plus
Partner Since: 2009 Rating Agency: M-Cril
Interest Rate: 24.0 % Delinquency Rate: 2.67 %
Target Clients: Poor, Ultra poor Default Rate: 0.0 %
Repayment overview

Total Funded Amount = $501.14
Total Loan Amount = $911.16

Repayment Overview chart

Note: This chart indicates the repayment by entrepreneurs on the principal amount. The actual repayment amounts include the interest on the loan and will be different.
Progress Report
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Funders to this entrepreneur

Dr. J - magician
Sivupersoona
The Imran Family
Canada & Israel
Geoff
Investor Image
Anonymous
 
 
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