Padma Devi and 4 entrepreneurs, Alkusha
Loan requested $1184.83
Loan issued $1184.83
Funds raised $651.66
Funds released $0.00
Sector Services
Repayment term in months 18.0


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About Padma Devi and 4 entrepreneurs, Alkusha

Padma Devi runs a small bicycle repairing shop at her house. She wants to expand her business and buy some equipment for this business and has hence applied for micro loan. She has five members in her family including two sons and one daughter 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. Padma Devi and all the entrepreneurs in this group have successfully repaid their first cycle loan from Ajiwika Society. This is their second loan. Anita Devi (Photo 2) has a very small grocery shop at her house. Due to loss of capital she has to close her shop and now she wants to open the shop once again. So to capitalize her shop and open the shop she has applied for micro loan. She has four members in her family including two sons who attend school. Her monthly income is Rs2500/-(USD55). Alawati Devi sitting in the middle of the group photo sells vegetable at customers door step. She wants to expand her business as her customers are increasing and she also wants to earn more profit and has hence applied a for micro loan. She also does construction work on the basis of daily wages. She has seven members in her family including one son and four daughters. Her monthly income is Rs3000/-(USD66). Basuni Devi sitting second from the left sells bangles. She wants to capitalize her business hence she has applied for a micro loan. She also wants to earn more profit to improve her standard of living. She has five members in her family including two sons and one daughter who attend school. Her monthly income is Rs3000/-(USD66). Sharma Devi sitting first from the left does construction work with her husband. She wants to expand her business and has applied for a micro loan. She also wants to save something for the future requirements. She has four members in her family including one son and one daughter 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 = $651.66
Total Loan Amount = $1184.83

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
   
 
   
 
     
Date: Jun 10, 2010

Anita Devi has re opened her shop and capitalized it. She is very much thankful to the guarantors for their help. She was pleased to she us when we went for collecting reports. She is doing well in her business and she also said that she will expand her business more and take a second loan from Ajiwika Society after completing the first cycle of loan as its repayment is based on monthly schedule and it is easier for her to pay.

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Funders to this entrepreneur

Andreas
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Bill
Geoff
Dr. J - magician
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Anette
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Anonymous
Sverre Skimmeland
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Ms. M
The Imran Family
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Anonymous
 
 
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