Mita Devi and four entrepreneurs, Bhojpur
Loan requested $1091.65
Loan issued $1091.65
Funds raised $600.41
Funds released $0.00
Sector Services
Repayment term in months 18.0


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About Mita Devi and four entrepreneurs, Bhojpur

Mita Devi has a fast food stall with her husband. She wants to invest in her business as the customers are increasing every day, hence applied for micro loan for her business. Her monthly income is Rs 3000/-(USD66). She is the group leader who organizes monthly meetings and ensures all repayments are made on time. Poonam Devi standing second from the left in the group photograph has a small dairy farm. She wants to buy some more cows to cater to the increased demand of her customers. She has applied for a micro-loan for her dairy farm. She lives in a family of five members including three sons and her monthly income is Rs.3500/-(USD77). Shanti Devi has a tailoring shop. She has many customers to whom she is unable to provide service in a timely manner, hence she wants to buy two sewing machines and hire one person. Therefore she has applied for a micro loan. She has five family members and her monthly income is Rs 4000/-(USD88). Duleshari Devi standing second from the right side in the group photo 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 lives in a big family with six members including three daughter and three sons. Her monthly income is Rs 4000/-(USD88). She wants to expand her business to earn more and improve the living condition of her house. Sona Jhari Devi standing first from the right corner. She has a dairy farm. She wants to buy some cows; hence she has applied for a micro loan. She has a big family with eight members including two son and four daughters. Her husband helps her in this business. Her monthly income is Rs 4000/-(USD88). These entrepreneurs are very dedicated and want to do good for themselves and their families. They understand the concept of a Joint Liability Group. In case any member is unable to repay the micro loan, they will pay on 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 = $600.41
Total Loan Amount = $1091.65

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: May 19, 2010

Mita Devi and all her group members are very thankful to all their guarantors for their help. She is very happy by getting this loan she makes packets of popcorns and other food products. Using the loan Shanti Devi bought sewing machine and handling her customers smoothly. Her nutrition has improved due to the increased income. Dulari Devi invested the capital amount in her hotel to expand it and now she is able to serve more customers than before. There business has increased and her income as well. They are doing well and after repaying this loan they want a bigger loan to expand their businesses further. All the group members are happy to take this loan from Ajiwika as they have to make monthly repayments where as other MFIs operating in this area require weekly repayments which is quite difficult for them.

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I'm glad to see this one funded as it is my first guarantee at this website.
Posted by Astrid on   22 Jan 2010 03:54 AM

Funders to this entrepreneur

Dr. J - magician
Andreas
Geoff
Sverre Skimmeland
The Imran Family
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Bill
Miriam Jacobs
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Aaron Furtado
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Anonymous
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Ajay Deshpande
Shubha & Bala
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Anonymous
Mandeep
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alana harrison
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Alex
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Anonymous
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Anupama Menon
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eric thompson
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Steven Linskens
Helle
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Astrid
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Anonymous
Birkel
 
 
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