Debi Devi and 4 entrepreneurs,Satar
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 Debi Devi and 4 entrepreneurs,Satar

Debi Devi has a dairy farm. She supplies milk to local tea stalls, restaurants and individuals. Demand for milk is growing day by day, hence she wants to buy some buffaloes. Therefore she has applied for a microloan. She has four family members including one daughter who goes to school. She wants to give her daughter higher education despite her low income. Her husband helps her in this business and her monthly income is Rs.1500/-(USD33). She is the group leader who organizes monthly meetings and ensures all repayments are made on time. She is sitting second from the right in the group photo. Anita Devi (Photo-2) has also a dairy farm. She wants to buy some cows, hence she has applied for a microloan. She has five family members including one son and one daughter who attend school. She also wants to earn more to improve the standard of living and save something to meet the contingencies. Her husband helps her in this business and her monthly income is Rs.1500/-(USD33). She is sitting first from the left in the group photo. Karita Devi sitting second from the left has a small fish business which she runs with her husband. As customers are growing she wants to expand the business, hence she has applied for a micro loan. She has five family members including one son who attends a school. Her monthly income is Rs.1500/-(USD33). Ramola Devi sitting at the centre has rice processing business. She wants to earn more by expanding her business, hence she has applied for a micro loan. She has six family members including one son and one daughter. She is quite ambitious for her children. Her husband helps her in this business and her monthly income is Rs.2000/-(USD44). Ruby Devi sitting first from the right has a small saloon which she runs with her husband. She wants to modernize her shop and attract more customers, hence she has applied for a micro loan. She has five family members including two daughters who are in the school. She also wants to earn more to save for the future. Her monthly income is Rs.1500/-(USD33). 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.


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

Debi Devi 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. She has purchased two buffaloes. Now she is able to supply milk to more customers. Due to increase in customers her income has also increased. Her children are going to school. karita devi used her loan amount to purchase more fish. Her nutrition has improved due to the increased income. Before taking loan her income was Rs.1500/- and after loan her income is Rs.2500/-. 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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Funders to this entrepreneur

Tom
Dr. J - magician
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Donna Barten
Geoff
Andreas
Grant
Sverre Skimmeland
melliecarma
John
Derrick
krialto
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Dave & Marilyn SMith
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Jesus Friend
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lynde stubbs
Supriya & Bala
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Ash
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Thomas & Deepa
 
 
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