Farida Begam and group, Sultan Nagar
Loan requested $1052.63
Loan issued $1052.63
Funds raised $578.95
Funds released $0.00
Sector Retail
Repayment term in months 18.0


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About Farida Begam and group, Sultan Nagar

Farida Begam earns her living by stitching school uniforms. Her daughter also helps her in this work. Both of them work on the same machine in shifts. Due to this, her daughter is unable to go to school. Farida has applied for a microloan to purchase 2 sewing machines, so that she can hire people and send her daughter to school. She lives in a big family and needs to take care of them. Presently her income is Rs. 3,000 (USD 66) per month. She hopes to increase her income and send her daughter for higher studies. Saifun Khatun, (photo 2) stitches bags to earn her living. Her husband sells these bags in the market. She has applied for a microloan to purchase a sewing machine and raw materials for making bags. She has 3 children, who go to a nearby school. Both of them are members of a Joint Liability Group at Sultan Nagar. In the group photo, Yasmin Khatun, sitting on the left in the front row, is the group leader. She organizes the group meetings and ensures that repayments are on time. She has applied for a microloan for her grocery shop. Besides her is Bilkish Khatun, she has applied for a microloan for her grocery shop. Bano Khatun, sitting on the left in the 2nd row has applied for a microloan to purchase sewing machine. Next to her is Saifun Khatoon (photo 2). Farida Begam (photo 1) is sitting on the last row and besides her is Bano Khatun, who has applied a microloan for her grocery shop. All these entrepreneurs are very hard working, committed and dedicated to their work. They also understand the concept of joint liability group. In case one of the group members is unable to repay the micro loan, they will pay the repayment on behalf of the member who is unable to pay the micro loan.


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 = $578.95
Total Loan Amount = $1052.63

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: Oct 22, 2009

Farida and all the entrepreneurs thank you for your support. We would like to give an update on Farida's loan. She was given a microloan of Rs.8000/-. After taking the microloan she has purchased two sewing machines and started stitching school uniforms at her home. This microloan has made her independent. There is also a significant change in her life style. Before taking the microloan her monthly income was Rs.3000/-, but after taking the microloan her monthly income has increased to Rs.4500/-. Now she is able to save a small amount of her earnings. Her standard of living has also changed a little bit. She enrolled her daughter at a school in the nearby area. Her daughter is happily attending school now. She also wants to give her daughter a better education. After repaying this loan she wants to get a loan of a bigger amount, so that she can expand her business and earn more to achieve her objectives. This point is common to almost all the clients.

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Good luck for your business!
Posted by P2P-Banking.com on   09 Jun 2009 12:24 PM

Funders to this entrepreneur

Ashok
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SK
The Imran Family
P2P-Banking.com
Geoff
Christy
rohit
Andreas
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HelpingHand
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Anonymous
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speedy
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Anonymous
 
 
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