Sommani Devi & 4 entrepreneurs, Bamania Gali
Loan requested $1055.71
Loan issued $1055.71
Funds raised $580.64
Funds released $0.00
Sector Services
Repayment term in months 18.0


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About Sommani Devi & 4 entrepreneurs, Bamania Gali

Sommani Devi is 33 years old and a married women. She has tailoring business which she runs from her house. She wants to expand her business as she is getting more customers. Her husband runs a small tea stall. She wants to invest capital in both of her businesses and to do this she has applied for a microloan. She has two daughters and one son who are going to school. Her monthly income is Rs 2500/-(USD55). Sommani Devi is the group leader who organizes monthly meetings and ensures that all repayments are made on time. Subhadra Devi (Photo 2) is standing first from the left in the group photo. She runs a small jewelry shop from her home. She is 48 years old and a married lady. She has three sons who attend school. She wants to invest capital in her business and decorate her shop to attract more customers. She also wants to buy some equipment for this business and has hence applied for a micro loan. Her monthly income is Rs3000/-(USD66). Her husband also helps her in this business. Sibani Devi is standing second from the left in the group photo. She is 37 years old and a married women living with her husband and two sons, who attend school. She runs a small electronics shop which she wants to capitalize as her customers are demanding quality and branded products. She also wants to expand her shop as it is very small in size. To do this she has applied for micro loan. Her monthly income is Rs 2500/-(USD55). Paramani Devi is standing second from the right in the group photo. She is 43 old and married. She runs a small saloon with her husband. She wants to decorate her saloon and also wants to buy some cosmetics and equipment for her saloon and hence she has applied for a micro loan. She has two sons. They also work in the saloon. She wants to grow the size of her shop as it is very small and can accommodate only three to four customers at a time. Her monthly income is Rs3000/-(USD66). She is taking a loan for the second time from Ajiwika Society as she successfully repaid the first loan. She also likes the monthly repayments system. Maya Devi is standing first from the right in the group photo. She is 42 years old and a married woman. She lives with her husband and two sons. Her husband is a wiring mechanic and he wants to buy some equipment for this business, and for this purpose she has applied for micro loan. Her sons are doing service in private companies as daily workers. 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 = $580.64
Total Loan Amount = $1055.71

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
Sverre Skimmeland
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Anonymous
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Anonymous
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Anonymous
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Anonymous
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Ms. M
Vitor
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Anonymous
The Imran Family
z-patterson
Ninad
Geoff
Deb
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Anonymous
Gro
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Bijal Modi
rajkishoreg
karishma
 
 
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