Gita Devi and 5 entrepreneurs, Tetarpara
Loan requested $1038.29
Loan issued $1038.29
Funds raised $571.06
Funds released $0.00
Sector Retail
Repayment term in months 18.0


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About Gita Devi and 5 entrepreneurs, Tetarpara

Gita Devi has a furniture shop at her home. Her customers demand products of improved quality and with modern designs. As a result, she has applied for a micro loan to buy equipment to meet the demands of her customers. She has four family members, including one son who goes to school. She wants to increase her income to educate her child and improve her standard of living. Her husband also helps her in this business, and her monthly income is Rs.2500 ($55). As the group leader, she organizes monthly meetings and ensures all repayments are made on time. She is sitting third from the left in the group photo. Mina Devi (photo 2) has a very small vegetable shop at her home. She wants to expand her business, since her customer base is growing. Because of this, she has applied for a micro loan. She has five family members, including one son who is a daily worker. She wants to increase her income to improve the conditions of her house. Her monthly income is Rs.2000 ($44). She is sitting third from the right in the group photo. Malti Devi, sitting first from the left in the group photo, raises goats. She supplies goat to hotels and restaurants. She wants to expand her business, so she has applied for a micro loan. She has five family members, including two sons who attend school. Her husband helps her in this business. Her monthly income is Rs.2000 ($44). She also wants to increase her income so that she will be able to deal with emergencies. Sarita Devi, sitting next to her, has a saloon, which she runs with her husband. She wants to modernize her shop to increase her income, so she has applied for a micro loan. She has five family members, including one son who is in the school. Her monthly income is Rs.1500 ($33). Asha Devi, sitting first from the right, has a dairy farm. She supplies milk to local restaurants, tea vendors and individuals. She wants to buy some cows, as demand for milk is growing. As a result, she has applied for a micro loan. She has seven family members, including two sons and one girl who are in the school. Her husband helps her in this business. She wants to increase her income to meet the growing needs of her family. Her monthly income is Rs.2000($44). Gita Devi, sitting second from the right, provides a rickshaw service with her husband. She wants to buy another rickshaw and hire one person, as demand is increasing. Because of this, she has applied for a micro loan. Her monthly income is Rs.2000 ($44), and she has four family members, including one daughter who is in the school. She wants to give her daughter higher education in spite of her low income. 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. The entrepreneurs in the group support each other through joint liability. 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 = $571.06
Total Loan Amount = $1038.29

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

Tom
Andreas
Geoff
Dr. J - magician
Deb
Sverre Skimmeland
Canada & Israel
Lars Gregorius Rov
Derrick
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Anonymous
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Anonymous
none
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Bijal Modi
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Bill
Grant
Gautam Rege
Shubha & Bala
 
 
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