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| Loan requested |
$1052.63 |
| Loan issued |
$1052.63 |
| Guarantee raised |
$578.95 |
| Guarantee released |
$0.00 |
| Sector |
Retail |
| Repayment term in months |
18.0 |
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| About Sakho Devi and group, Ritudih |
Sakho Devi has a grocery shop of her own, with which she earns her living. She has applied for a microloan to expand her small grocery shop, so that she can meet the demand from customers. She has 3 children who go to a nearby school. She is also the group leader of the Joint Liability Group at Ritudih. She organizes monthly meetings and ensures that repayments are on time.
Sharda Devi (photo 2) helps her husband in the business of battery making, she has applied for a microloan to purchase materials required for making batteries. She has 3 children, 2 of them go to school, she lives in a joint family and needs to take care of them.
In the group photograph, Chinta Devi, who has applied for a microloan for her bakery shop is sitting besides Sakho Devi. Sitting beside Sharda Devi on the second row to the right is Lalita Devi. She has applied for a microloan for her tea and sweets shop.
Babita Devi sitting in the 3rd row from left has applied for a microloan to purchase a sewing machine. Sitting next to her is Shakumti Devi.
These entrepreneurs are very dedicated and want to do good for themselves and their family. 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.
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| Comment about Sakho Devi and group, Ritudih 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= $578.95
Total Loan Amount= $1052.63
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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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Date: Dec 16, 2009
Sakho 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. Using the loan Sakho Devi purchased more items for her grocery store to meet the demands of her customers. Her business has increased and her income as well. Before taking the loan her income was Rs.3000/- and now her income is Rs.4000/-. Her children are attending a nearby school. She wants to give them better education. Due to the increase in income her standard of living has also increased.
Sharda Devi was able to purchase more materials for making batteries to fulfill the growing demands of her customers. Her business has increased and income as well. Before taking loan her income was Rs.3000/- and after loan her income is Rs.4000/-. Her children are attending a nearby school. Due to the increase in income her standard of living has also increased a little bit.
Chinta Devi used the loan to increase the size of her bakery. Before taking loan her income was Rs.3500/- and after loan her income is Rs.4500/-. Her child is attending a nearby school. Her nutrition has improved due to the increased income.
Recently Jharkhand was declared as drought affected state but their businesses are not affected. They are doing well and after repaying this loan they want a bigger loan to expand their businesses further.
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.
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