Nitu Devi and 4 entrepreneurs, Santhaldih
Loan requested $562.19
Loan issued $562.19
Funds raised $309.21
Funds released $0.00
Sector Handicraft
Repayment term in months 18.0


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About Nitu Devi and 4 entrepreneurs, Santhaldih

Nitu Devi (Photo 1) sitting first from the left makes paper board crown with her husband. She wants to expand her business as her customers are increasing day to day. To do this she has applied for a micro-loan. She has three members in her family including one daughter. She wants to give her daughter a higher education. Her monthly income is Rs2500/-(USD55). She is the group leader who organizes monthly meetings and ensures that all repayments are made on time. Chotni Devi (Photo 2) sitting second from the left also makes paper board crown. She wants to expand her business and make some stock and hence has applied for a micro-loan. She also wants to save something for the future. She has six members in her family including four daughters who attend school. Her husband also helps her in this business. Her monthly income is Rs3000/-(USD66). Sarla Devi sitting in the middle of the group photo has a small garage which she runs with her husband. She wants expand it and also wants to buy some equipment for this business and hence she has applied for a micro-loan. She also wants to improve her standard of living and increase her income so that she will be able to deal with emergencies. Her monthly income is Rs3000/-(USD66). Gita Devi sitting second from the right makes paper board crown with her husband. She wants to expand her business as the demand is increasing day to day. To meet the growing demand of her customers she has applied for a micro-loan. She has four members in her family including one son and one daughter who are going to a nearby school. Her monthly income is Rs3000/-(USD66). Gulpa Devi sitting first from the right also makes paper board crown. Her husband also helps her in this business. She wants to expand her business to improve her standard of living and hence has applied for a micro-loan. She has four members in her family including two sons who attend school. Her monthly income is Rs3000/-(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 = $309.21
Total Loan Amount = $562.19

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
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Leonard
Geoff
Vitor
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Anonymous
 
 
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