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| Loan requested |
$911.16 |
| Loan issued |
$911.16 |
| Guarantee raised |
$501.14 |
| Sector |
Retail |
| Repayment term in months |
18.0 |
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| About Mamta Devi and 4 entrepreneurs, Bhavanipur |
Mamta Devi (Photo 1) sitting first from the left runs a tailoring business from her house. She wants to move her business to the marketplace where she can attract more customers. She has applied for a micro-loan so that she can buy a sewing machine. She has six members in her family including three daughters and one son who attend school and her monthly income is Rs 2000/-(USD44). She is the group leader who organizes monthly meetings and ensures that all repayments are made on time.
Nirmala Devi (Photo 2) sitting in the middle of the group photo sells plastics, tins etc. she wants to expand her business to earn more profit hence applied for 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 school. Her monthly income is Rs3000/-(USD66).
Lakhi Devi sitting second from the left sells vegetables in very small quantities. She wants to increase the size of her business because there is a growing demand for her products, so she has applied for a micro-loan. Her husband helps her in this business. She has four members in her family including one son and one daughter who attend school and her monthly income is Rs 3000/-(USD66).
Sima Devi sitting second from the right also sells vegetables with her husband. She wants to expand her business to earn more profit and improve her standard of living hence has applied for micro loan. She has three members in her family including one daughter who attends school. She wants to give her daughter higher education in spite of her low income. Her monthly income is Rs 3000/-(USD66).
Putala Bauri sitting first from the right has a small bangle shop at her home where she gets a few customers. She 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 micro loan. Her husband helps her in this business. She has four members in her family including two sons and her monthly income is Rs2500/-(USD55).
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 Mamta Devi and 4 entrepreneurs, Bhavanipur 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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