Arti Devi and 4 entrepreneurs,Baxsi Bandh
Loan requested $909.09
Loan issued $909.09
Funds raised $500.00
Funds released $0.00
Sector Retail
Repayment term in months 18.0


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About Arti Devi and 4 entrepreneurs,Baxsi Bandh

Arti Devi has an electronics shop. She wants to buy improved products for her shop. Hence she has applied for a microloan. She has four family members including one son who goes to school. Her husband also helps her in this business. She wants to increase her income to improve the living condition of her house and save something to meet the contingencies. Her monthly income is Rs.2000/-(USD44).She is the group leader who organizes monthly meetings and ensures all repayments are made on time. She is sitting in the middle in the group photo. Radha Devi (Photo-2) has a small cloth store at her home where she gets a few customers. She wants to move her shop to a market place where she can get more customers and increase her income, hence she has applied for a microloan. She has five family members including one son who is a daily worker. Her monthly income is Rs.1500/-(USD33).She is sitting second from the left in the group photo. Rekha Devi sitting first from the left in the group photo has a cell phone repair shop. She wants to buy some equipment for this shop, hence she has applied for a microloan. She has four family members including one son who helps her in the business. Her monthly income is Rs.1500/-(USD33). Beby Raj sitting first from the right has a tailoring shop. She has many customers to whom she is unable to provide service properly. She wants to buy two sewing machines and hire one person, hence she has applied for a micro loan. She also takes the help of her husband. She has five family members including one son who is goes to school. She wants to give her son higher education despite her low income. Her monthly income is Rs.2000/-(USD44). Vina Devi sitting second from the right has a small restaurant which she runs with her husband. She wants to increase its size as customers are increasing. Hence she has applied for a micro loan. She has four family members including one son goes to school. Her monthly income is Rs.2000/-(USD44). 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

Arti Devi and all her group members are very thankful to all their guarantors for their help. Each of them received Rs. 8000/- as a microloan. Radha Devi expanded her clothes business and serving more customers. Vina Devi has expanded her restaurant. After taking this loan her income and standard of living has improved. Her income has increased from Rs.2000/- to Rs.3000/. Beby Raj has purchased two sewing machines with the loan amount and serving her customers. She is also able to save something.

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Help me choose my dress!!

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Funders to this entrepreneur

Dr. J - magician
Sverre Skimmeland
Canada & Israel
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Nani
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Marianne
Derrick
Andreas
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lynde stubbs
Supriya & Bala
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Ash
mole333
Andreas
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Anonymous
 
 
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