Gita Devi and group, Dundibag
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 Gita Devi and group, Dundibag

Gita Devi sells vegetables in the market along with her husband and earns her living. She has applied for a microloan so that she can start her own vegetable and grocery shop near her home, as her children are very small. She wants to educate her children so that they become independent. Presently she earns Rs. 3,000 per month. Ruma Devi (photo 2) sells fruits in the local market on a cart. She has applied for a microloan to rent space and purchase more seasonal fruits, in order to improve her life. Her children go to a local area school, she wants them to get higher education so that they can avail the necessities and luxury of life without any obstacles. Both of them are member of a Joint Liability Group at Dundibag. In the group photo, Pratima Devi, sitting in 1st row from the right is the group leader. She organizes monthly meetings and ensures that repayments are on time. She has applied for a microloan for her grocery store which she runs with her husband. Behind her is Pramila Devi. She has applied for a microloan for her vegetable shop and lady sitting between Pramila Devi and Ruma Devi is Mujafun Nisha. She has applied for a microloan for her fruit shop. All these entrepreneurs are very hard working, committed and dedicated to their work. 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.


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: Dec 16, 2009

Gita 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. Gita Devi used this loan to purchase more vegetables for her grocery store and serve more customers. After taking this loan her income and standard of living has improved. Her income has increased from Rs.2500/- to Rs.3500/-. Her children are attending school and she wants to give higher education to her children. Her increased income has also helped her save a little. The recent drought situation in Jharkhand has impacted her business a little bit though. Mujafun Nisha used this loan to purchase more variety of fruits and expand her fruit business. Her income has increased from Rs.2500/- to Rs.4000/-. Her standard of living has also increased a little bit. Her child is attending a nearby school. She is happy now and wants to give higher education to her child. Pratima Devi has purchased and stored more items in her grocery store to serve more customers. Before taking loan her income was Rs.2500/- and after loan her income is Rs.3500/-. Her children are attending a nearby school. Due to the increase in income her standard of living has increased a little bit and sanitation of her house has also improved. 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. After repaying this loan they want a bigger loan to expand their businesses further.

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These entrepreneurs are seeing significant increases in income - EXCELLENT. Sending children to school... - this is very satisfying feedback from a guarantor's point of view. Keep it up Gita Devi, my thoughts and best wishes are with you and your group! Andreas
Posted by Andreas on   07 Jan 2010 12:32 AM

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Good luck for your business!
Posted by P2P-Banking.com on   09 Jun 2009 12:25 PM

Funders to this entrepreneur

Shubha & Bala
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Anonymous
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Anonymous
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Anonymous
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SK
Geoff
The Imran Family
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Anonymous
P2P-Banking.com
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speedy
Christy
rohit
Andreas
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Lakshmi
karishma
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simonitrios
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Anonymous
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Anonymous
 
 
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