Meena Devi and 4 entrepreneurs, Ram Nagar
Loan requested $1684.64
Loan issued $1684.64
Funds raised $926.55
Funds released $0.00
Sector Retail
Repayment term in months 18.0


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About Meena Devi and 4 entrepreneurs, Ram Nagar

Meena Devi is 43 years old and married. She has a small grocery shop which she runs with her husband. She wants to invest capital in her business and expand her business as her customers are demanding for daily use products. She also wants to make keep stock of items and has hence applied for a micro loan. She has earned a good name in her locality and thus her customers are also increasing. She has three daughters and one son who attend school. She also wants to save something for the future requirements to deal with the emergencies. Her monthly income is Rs3000/-(USD66). Meena Devi and all the members in this group are on the second cycle loan from Ajiwika Society. They have successfully repaid the first cycle loan. Meena Devi is the group leader who organizes monthly meetings and ensures that all repayments are made on time. Hema Devi (Photo 2) is sitting in the middle of the group photo. She is 30 years old and married woman. She runs a small saloon with her husband and her sons. She wants to repair her shop as it was burned few days earlier due to an electrical short circuit. She also wants to buy some equipment for this business. To do all this she has applied for micro loan. She has two sons who help her in this business. Her monthly income is Rs2500/-(USD55). Sunaina Devi is sitting first from the left in the group photo. She is 26 years old and a married lady. She runs a small tailoring business at her home. She also stitches old clothes for her customers. Her husband is a peddler of clothes. She wants to invest capital in her husbands business and also wants to buy a new tailoring machine for her business. In order to do this she has applied for a micro loan. She has one son and one daughter who attend school. Her monthly income is Rs2500/-(USD55). Champa Devi is sitting second from the right in the group photo. She is 42 years old and a married woman. She has bricks business which she does with her husband. She makes and supplies bricks in the market. She has got many orders for the bricks but she is unable to meet the demand. In order to buy the materials needed for this business and supply bricks on time to her customers she has applied for micro loan. She has four sons and one daughter. One of her sons helps her in this business and the rest of her children attend a nearby school. Her monthly income is Rs2000/-(USD44). Manju Devi is sitting first from the right in the group photo. She is 47 years old and a married woman. She has acid and chemical business. She wants to expand her business and also wants to buy some equipment for this business and has hence applied for a micro loan. She has six members in her family including three sons and one daughter who attend school. Her monthly income is Rs3000/-(USD66). She also wants to save something for the future requirements and deal with the emergencies. 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 = $926.55
Total Loan Amount = $1684.64

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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Anonymous
Sverre Skimmeland
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Anonymous
Geoff
The Imran Family
Anonymous
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Ms. M
chiradeep
Judith
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Anonymous
 
 
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