Bina Devi and 5 entrepreneurs, Sonatand
Loan requested $1124.39
Loan issued $1124.39
Funds raised $618.41
Funds released $0.00
Sector Services
Repayment term in months 18.0


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About Bina Devi and 5 entrepreneurs, Sonatand

Bina Devi (Photo 1) standing third from the left owns a motor cycle repairing garage which she runs with her husband. She has many customers with a variety of needs, and she is unable to serve them adequately. As a result, she wants to grow her business by purchasing improved equipment and hire a mechanic, so she has applied for a micro-loan. She has five family members including two sons and one daughter who attend school. Her monthly income is Rs 3000/-(USD66). She is the group leader who organizes monthly meetings and ensures that all repayments are made on time. Jitani Devi standing second from the left runs a small hotel with her husband. She wants to input capital in her hotel to grow her business by increasing the size of her hotel. She has applied for a micro-loan for her hotel. She has five members in her family including one daughter and two sons who attend a nearby school. Her monthly income is Rs3000/-(USD66). Sobha Devi sitting standing first from the left has a small general store shop. She wants to expand her business and input more capital in her business as her customers are increasing and demanding for quality products. To fulfill the demand of her customers she has applied for a micro-loan. She has four members in her family including two sons who help her in this business. Her husband also helps her in this business. Her monthly income is Rs3000/-(USD66). Sheela Devi standing third from the right has a small mushroom farm. She wants to expand her business and earn more profit as her customers are increasing day to day and hence she has applied for a micro-loan. She also wants to save something for a future requirement. She has five members in her family including two daughters and one son who attend school. Her husband also helps her in this business. Her monthly income is Rs3000/-(USD66). Sadhan Devi standing second from the right has a tailoring business at her home. She has many customers, but is unable to serve them adequately. Her husband also helps her in her work. She has applied for a micro-loan for her tailoring business. She has four members in her family including two sons who attend school. Her monthly income is Rs 3000/-(USD66). Sunita Kumari standing first from the right 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 two sons who attend school. She wants to give her children a higher education in spite of her low income. Her monthly income is 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 = $618.41
Total Loan Amount = $1124.39

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

Sverre Skimmeland
Shubha & Bala
Andreas
Geoff
Vitor
FairSpirit
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Alex
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Bill
Panchk
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Anonymous
 
 
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