Arun Devi & 5 entrepreneurs, Karpuri Chowk
Loan requested $1516.59
Loan issued $1516.59
Funds raised $834.12
Funds released $0.00
Sector Retail
Repayment term in months 18.0


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About Arun Devi & 5 entrepreneurs, Karpuri Chowk

Arun Devi runs a grocery shop with her husband. Since she wants to move ahead with her business properly and she needs more facilities and for that she has applied for micro loan. She also wants to earn more profit and improve her standard of living. She has five members in her family including one daughter and two sons who attend school. Her monthly income is Rs3000/-(USD66). She is the group leader who organizes monthly meetings and ensures that all repayments are made on time. Arun Devi and all the entrepreneurs in this group have successfully repaid their first cycle loan from Ajiwika Society. This is their second loan. Manju Devi (Photo 2) has egg business which she runs with her husband. She wants to expand her business as the demand is increasing. To meet the growing demand from her customers and earn more profit she has applied for micro loan. She has seven members in her family including one son and four daughters who attend school. She also wants to save something for the future. Her monthly income is Rs3000/-(USD66). Basanti Devi sitting first from the left at front row provides auto rickshaw service with her husband. She has one daughter and two sons. Both the sons are daily wage workers and they are very hard working people. As they are very poor she wants her husband to buy their own auto rickshaw for this purpose and has hence applied for micro loan. She also wants to repair her auto risckshaw. Her monthly income is Rs3000/-(USD66). Pratima Devi sitting first from the right at front row has water pipe business. She wants to capitalize her business to expand it and hence applied for micro loan. Her husband also helps her in this business. She wants to improve her standard of living by earning more profit. She has six members in her family including two sons and two daughters who attend school. Her monthly income is Rs3000/-(USD66). Anju Devi sitting in the middle at back row has a saloon, which she runs with her husband. She wants to modernize her shop to increase her income, so she has applied for a micro loan. She has five members in her family including one son and two daughters who attend school. Her monthly income is Rs3000/-(USD66). She also wants to increase her income so that she will be able to deal with emergencies. Rekha Devi sitting first from the right at back row runs a small egg shop. She wants to expand her business as her customers are increasing. To meet the growing demand from her customer and earn more profit she has applied for micro loan. She has five members in her family including two daughters and one son who attends to 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 = $834.12
Total Loan Amount = $1516.59

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

Andreas
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Bill
Geoff
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Sverre Skimmeland
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The Imran Family
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Anonymous
 
 
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