Salma Bibi and 4 entrepreneurs, Mohandih
Loan requested $871.65
Loan issued $871.65
Funds raised $479.41
Funds released $0.00
Sector Retail
Repayment term in months 18.0

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About Salma Bibi and 4 entrepreneurs, Mohandih

Salma Bibi earns a living from her cosmetics store, which she operates from her house. Because her house is located in a sparsely populated area, she is unable to attract more customers. As a result, she wants to move her store to a marketplace, where she can serve a larger number of customers and supply her store with more items. In order to achieve this, she has applied for a micro-loan for her small cosmetics store. She is the group leader, and she organizes monthly meetings and ensures that all repayments are made on time. Guljan Bibi (photo 2) and her husband are daily-wage workers and work on construction sites. In addition to this, her husband does small repair work. Both of them want to start a cement shop. Her husband will continue his daily-wage and repair work and she wants to purchase cement and equipment to repair. She has applied for a micro-loan for her cement and repair shop. There are four people in her family, which includes her two sons. Her monthly income is Rs.3,500/-. Hazara Bibi is sitting first from the left in the group photo owns a small furniture store. Her husband works there alone and they offer locally-made hardware, which does not attract a lot of customers. As a result, she has applied for a micro-loan for her furniture store so that she and her husband can purchase decorative and sophisticated hardware. With this investment, they hope to improve their standard of living. She has four family members and her monthly income is Rs.2,500/-. Gulsan Ara sitting next to Hazara Bibi, owns a welding store. She runs it with her husband and their two sons. She has applied for a micro-loan for the store. She has five family members and her monthly income is Rs.3,000/-. Salma Bibi is sitting at the center, and Guljan Bibi is sitting second from the right. Sarifan Bibi is sitting first from the right. She 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. There are five people in her family including two daughters. These entrepreneurs are very dedicated and want to do well not only for themselves but also for their families. They understand the concept of a Joint Liability Group. If any member of the group is unable to repay their micro-loan, the other members 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 = $479.41
Total Loan Amount = $871.65

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 15, 2009

Salma Bibi and group members were given loan of Rs.8000/- each. Salma Bibi runs a cosmetic shop. After taking loan she has moved her shop to a market place and has purchased more items for her shop. Now she is able to get more customers. Earlier her income was Rs.2500/- per month but now she is able to earn Rs.3500/- per month. She is also saving a little amount of her earning for future.

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Funders to this entrepreneur

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The Imran Family
diego von vacano
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Sverre Skimmeland
M-chi's College Fund
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RajMelville is a U.S. 501(c)3 non-profit organization