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| Loan requested |
$911.16 |
| Loan issued |
$911.16 |
| Guarantee raised |
$501.14 |
| Sector |
Others |
| Repayment term in months |
18.0 |
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| About Meena Devi and 4 entrepreneurs, Kurmidih |
Meena Devi (Photo 1) sitting first from the right has a tailoring shop at her home. She wants to move her shop to a market place and buy one sewing machine, so she has applied for a micro loan. She has six family members, including one son and three daughters who are in school. She is dedicated to giving her children a bright future, and her monthly income is Rs2000/-(USD44). She is the group leader, so she organizes monthly meetings and ensures that all repayments are made on time.
Leelawati Devi (Photo 2) sitting second from the right owns a dairy farm. She has many customers to whom she is unable to supply milk. To solve this problem and to meet the demands of her customers, she wants to purchase more cows. She has applied for a micro-loan for her dairy farm. She has five family members including three sons. Her husband helps her in this business and her monthly income is Rs3000/-(USD66).
Meena Devi sitting in the middle of the group photo has a small betel shop which she wants to expand as she has more customers, so she has applied for a micro-loan. Her husband also helps her in this business. She has six members in her family including three daughters and one son who attend a nearby school. Her monthly income is Rs3000/-(USD66).
Asha Devi sitting second from the left has a small dairy farm. She has many customers to whom she is not able to cater service. She wants to buy some cows and hence applied for micro loan. She has seven members in her family including three daughters and two sons who attends to school. She also wants to save something for the future. Her monthly income is Rs3500/-(USD77).
Sano Devi sitting first from the left runs a small grocery shop with her husband at her house. She wants to increase the size of business by investing more capital, so she has applied for a micro-loan. She also wants to earn more profit to improve her standard of living. She has four members in her family including one son and one daughter who attends to a nearby school. Her monthly income is Rs3500/-(USD77).
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.
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| Comment about Meena Devi and 4 entrepreneurs, Kurmidih in Facebook |
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Name:
Ajiwika Society
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Ownership:
Non-profit
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Year Founded:
2006
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Credit Risk Rating:
Beta Plus
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Partner Since:
2009
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Rating Agency:
M-Cril
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Interest Rate:
24.0 %
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Delinquency Rate:
2.67 %
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Target Clients:
Poor, Ultra poor
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Default Rate:
0.0 %
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| Repayment overview |
Total Guarantee Amount= $501.14
Total Loan Amount= $911.16
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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. |
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| Progress Report |
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Guarantors to this entrepreneur
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