Sumitra Devi and 4 entrepreneurs, Narayanpur
Loan requested $877.80
Loan issued $877.80
Funds raised $482.79
Funds released $0.00
Sector Others
Repayment term in months 18.0


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About Sumitra Devi and 4 entrepreneurs, Narayanpur

Sumitra Devi (Photo 1) sitting first from the right has a furniture shop. She wants to invest capital in this business to buy some equipment for this business to make furniture of modern design as the demands of customers are moving towards well designed product hence she has applied for a micro loan. She also wants to save something for the future. Her husband also helps her in this business. Her monthly income is Rs3000/-(USD66). She is the group leader who organizes monthly meetings and ensures that all repayments are made on time. Madhuri Dutta sitting second from the right has puff rice business. She wants to expand her business as her customers are increasing. She also wants to make some stock of rice for the future use as the price is rising. To do this she has applied for micro loan. She has six members in her family including four sons. Her husband works as carpenters. Her children also help him in this business. Her monthly income is Rs3000/-(USD66). Bhavani Devi sitting in the middle of the group photo also has puff rice business. She is a peddler of puff rice. She wants to expand her business to earn more profit. She also wants to save something for the future requirements and hence applied for micro loan. Her husband also helps her in this business. Her monthly income is Rs2000/-(USD44). Sunita Devi sitting second from the left works on constructions site on daily wages. Her husband also helps her in this business. She wants to buy some equipment for this work and hence applied for micro loan. She has five members in her family including two sons and one daughter who attends to school. Her monthly income is Rs2000/-(USD44). Namita Devi sitting first from the left supplies soap and detergent to the nearby market. Her husband also helps her in this business. She wants to expand her business and also wants to make some stocks of these products as the price is increasing. To do this she has applied for micro loan. She has five members in her family including three sons who attends to school. her monthly income is Rs 3000/-(USD66). 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 = $482.79
Total Loan Amount = $877.8

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

Geoff
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Anonymous
Andreas
Dr. J - magician
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Vittal Rao
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LR
Supriya & Bala
Sverre Skimmeland
Vitor
KerryR
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Anonymous
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Ms. M
Shubha & Bala
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Anonymous
Sivupersoona
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Anonymous
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Atle
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Anonymous
 
 
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