Babita Singh and 4 entrepreneurs, Belabagan
Loan requested $869.94
Loan issued $869.94
Funds raised $478.47
Funds released $0.00
Sector Others
Repayment term in months 18.0


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About Babita Singh and 4 entrepreneurs, Belabagan

Babita Singh has a small milk shop, and she has a lot of customers. She wants to supply more products and improve her facilities so that she can meet her customers' growing demands. As a result, she has applied for a micro-loan. She has four family members, including one son who attends a nearby school, and her monthly income is Rs.3,000(USD 66). She is the group leader, and she organizes monthly meetings and ensures all repayments are made on time. Abantika Devi (photo 2) has a small beauty parlor. She wants to equip her parlor with better products and to improve her facilities. Therefore, she has applied for a micro-loan. She has four family members, and her monthly income is Rs.3,500(USD 77). She is sitting first from the left in the group photo. Munni Devi, sitting second from the left, has a pay phone booth, which she wants to modernize. In order to do this, she has applied for a micro-loan. She has five family members, including one son and one daughter. Her husband also helps her in her business, and her monthly income is Rs.2,000(USD 44). Laxmi Devi, sitting in the middle, has a cloth store in her home, where she is unable to attract many customers. She wants to move her shop to a marketplace, where she can get more customers, so she has applied for a micro-loan. She has five family members, including two sons, and her monthly income is Rs. 2,000(USD 44). Babita Singh is sitting first from the right. Sharmila Rajak, sitting second from the right, has a laundry, which she wants to modernize. As a result, she has applied for a micro-loan. She has six family members, including two sons who help her in her business, and her monthly income is Rs.2,500(USD 55). These entrepreneurs are very dedicated and want to do well not only for themselves but also for their families. They understand the concept of a Joint Liability Group; if any member of the group is unable to repay their micro-loan, the other members will pay on the behalf of the member whose loan is delinquent. The entrepreneurs in the group support each other through joint liability.


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 = $478.47
Total Loan Amount = $869.94

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: Dec 15, 2009

Babita Singh and her group members have received a loan of Rs.8000/- each. After taking loan Babita Singh is able to buy and store more milk and milk products. Her customers have increased and income as well. Her income has increased from Rs.3000/- to Rs.4500/-. Her one son is now attending a private school.

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Funders to this entrepreneur

Investor Image
Anonymous
Hoelder1in
Dr. J - magician
Roland
Andreas
Sverre Skimmeland
Supriya & Bala
Gro
Investor Image
RedXIII
Gaurav
Investor Image
Stefan
Investor Image
Anonymous
 
 
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