Kunti Devi and 4 entrepreneurs, Chandan Kayar
Loan requested $862.66
Loan issued $862.66
Funds raised $474.46
Funds released $0.00
Sector Retail
Repayment term in months 18.0


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About Kunti Devi and 4 entrepreneurs, Chandan Kayar

Kunti Devi runs a small betel shop with her husband. She wants to expand her business to meet the demand of her increasing number of customers, hence she has applied for a microloan. She has six members in her family including three sons and one daughter and her monthly income is Rs 1500/-(USD33). She is the group leader, and she organizes monthly meetings and ensures that all repayments are made on time. Rekha Devi (Photo 2) sitting first from the right runs a very small grocery shop in her house. Her husband helps her in this business. She wants to expand her business to earn more income and save something for the future. She has five members in her family including two sons and one daughter and her monthly income is Rs 2000/-(USD44). Badna Devi sitting first from the left in the group photo has a vegetable shop in her house. Her husband helps her in this business. She wants to invest in her business to increase her income and has hence applied for a microloan. She has five members in her family including two sons and one daughter who attend school. Her monthly income is Rs 3000/-(USD66). Aarti Devi sitting second from the left in the group photo runs a small poultry farm. Her husband is a peddler of eggs. She wants to expand her business and wants to move her shop to a market place where she can get many customers and increase her income. Hence she has applied for a microloan. She has four members in her family including one son and one daughter and her monthly income is Rs 3000/-(USD66). Fhulan Devi sitting in the middle of the group photo does centring work with her husband. She wants to buy some equipment for this business, hence she has applied for a microloan. She wants to earn more to improve the standard of living and to meet the future requirements. She has five members in her family including three daughters and 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. Note: In the entrepreneur names you may find that several last names are repeated e.g. Devi, Bibi, Kumari. These are not last names as commonly understood but respectful ways of addressing ladies in certain parts of India.


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 = $474.46
Total Loan Amount = $862.66

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
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Funders to this entrepreneur

Shubha & Bala
Dr. J - magician
Andreas
Sverre Skimmeland
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Jeshyr
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Anette
Geoff
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Anonymous
 
 
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