Afsana Khatoon and 4 entrepreneurs,Mandai
Loan requested $909.09
Loan issued $909.09
Funds raised $500.00
Funds released $0.00
Sector Livestock
Repayment term in months 18.0


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About Afsana Khatoon and 4 entrepreneurs,Mandai

Afsana Khatoon has goat business. She supplies lamb to the hotels, restaurants and individuals. She wants to expand her business due to increase in demand for meat, hence she has applied for a microloan. She has five family members including one son and one daughter. Her son goes to the nearby school. Her monthly income is Rs.2000/-(USD44). Her husband is a daily wage worker. Both of them want to give higher education to their children. She is the group leader who organizes monthly meetings and ensures all repayments are made on time. She is sitting in middle in the group photo. Jamila Khatoon (Photo-2) has a small grocery shop at her home. She wants to capitalize it to expand the business. Hence she has applied for a microloan. She has four family members including one son who helps her in this business. Her monthly income is Rs.1500/-(USD33). She is sitting second from the right in the above group photo. Saroj Khatoon sitting first from the left in the above group photo has a small cycle repair shop. She wants to buy some equipment for the shop. Hence she has applied for a microloan. She has four family members including one son who helps her in this business. She also wants to increase her income to repair her house and to improve the standard of living. Her monthly income is Rs.1500/-(USD33). Maimuna Khatoon sitting next to her has a tailoring shop. She has many customers. She wants to buy two sewing machines and hire one person to serve her customers better. Her husband also helps her in this business. She has four family members including one daughter who goes to school. She wants to give her daughter higher education in spite of her low income. Her monthly income is Rs.2000/-(USD44). Yashma Khatoon sitting first from the right has a very small grocery shop. She wants to expand this shop. Hence she has applied for a microloan. She has four family members. Her monthly income is Rs.1500/-(USD33). She wants to earn more as her family's needs are increasing. 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 microloan, 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.


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 = $500.0
Total Loan Amount = $909.09

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: Feb 27, 2010

Afsana Khatun and all her group members are very thankful to all their guarantors for their help. Each of the group members received Rs. 8000/- as a microloan. Jamila Khatun used this loan to purchase more items for her grocery store to fulfill the growing demands of her customers. After taking loan her income and standard of living has improved. Her income has increased from Rs.1500/- to Rs.2500/. Maimuna Khatun has purchased two sewing machines and hired a person. She used to save some money now from her monthly income. The group members are happy to take loans from Ajiwika as it takes repayments from its clients monthly where as other MFIs operating in this area require weekly repayments which is quite difficult for the clients. Recently, Jharkhand was declared as drought affected state but their business did not get affected. They are doing well.

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Dear Sandip, Great to know that the microloans are making a difference. Look forward to hearing more updates of the impact! Thanks for all your hard work. -Bhalchander
Posted by Shubha & Bala on   28 Feb 2010 10:45 PM

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Funders to this entrepreneur

Tom
Dr. J - magician
Geoff
Andreas
Praveen
Sverre Skimmeland
Marcus
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Anette
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Marianne
Kris
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Anonymous
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Bill
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Vijai
Derrick
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Jesus Friend
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lynde stubbs
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Judy
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c10
Vasiliki
Jim
The Imran Family
mole333
 
 
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