Rina Devi and 4 entrepreneurs, Azadnagar
Loan requested $924.00
Loan issued $924.00
Funds raised $508.20
Funds released $0.00
Sector Services
Repayment term in months 18.0


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About Rina Devi and 4 entrepreneurs, Azadnagar

Rina Devi provides auto service with her husband. Her customers are increasing day by day. She wants to hire an auto and a driver. She also wants to repair her auto. Hence she has applied for a micro loan. She has four members in her family including one son and one daughter who are attending to a nearby school. Her monthly income is Rs3500/-(USD77). She is the group leader who organizes monthly meetings and ensures that all repayments are made on time. Uma Devi (Photo 2) sitting first from the right owns a dairy farm. She has many customers to whom she is unable to supply milk. To solve this problem and to meet the demands of her customers, she wants to purchase more cows. She has applied for a micro-loan for her dairy farm. She has four members in her family including two sons who attends to school. Her monthly income is Rs3000/-(USD66). Urmila Devi sitting second from the right has a dairy farm. She supplies milk to local tea stalls, restaurants and individuals. Demand for milk is growing day by day hence she wants to buy some buffaloes. Therefore she has applied for a micro loan. She has six members in her family including three sons and one daughter who are in school. Her monthly income is Rs3000/-(USD66). Shanti Devi sitting in the middle of the group photo has a tailoring shop at her home where she gets a few customers. She wants to move her shop to a market place where she can get many customers and increase her income and hence applied for micro loan. She has five members in her family including two sons and one daughter. Her husband also helps her in this business. Her monthly income is Rs3000/-(USD66). Parmila Devi sitting second from the left owns a dairy farm. She has many customers to whom she is unable to supply milk. To solve this problem and to meet the demands of her customers, she wants to purchase more cows. She has applied for a micro-loan for her dairy farm. She has five members in her family including two sons and one daughter who attends to school and her monthly income is Rs3500/-(USD77). 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 = $508.2
Total Loan Amount = $924.0

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
Andreas
Dr. J - magician
Investor Image
Vittal Rao
Sverre Skimmeland
42 Crew
Shubha & Bala
Birkel
Sivupersoona
Investor Image
Anonymous
Investor Image
Anonymous
 
 
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