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| Loan requested |
$1090.91 |
| Loan issued |
$1090.91 |
| Guarantee raised |
$600.00 |
| Sector |
Retail |
| Repayment term in months |
18.0 |
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| About Rabiya Khatoon and 5 entrepreneurs |
Rabiya Khatoon supplies pastries to local tea stalls and grocery shops. She wants to expand her business as customers are increasing, hence she has applied for a microloan. She has four family members including one son who attends a school. She wants to give a bright future to her only son. Her husband is a daily worker and her monthly income is Rs.2000/-(USD44). She is group leader who organizes monthly meetings and ensures all repayments are made on time.
She is sitting second from the right in the group photo.
Ruby Perween (Photo-2) has a tailoring shop. She has many customers to whom she is unable to provide service on time, hence she wants to buy two sewing machines and hire one person. Therefore she has applied for a microloan. She has five family members and her monthly income is Rs.1500/-(USD33). She is sitting first from the left in the group photo.
Nishat Perween sitting second from the left has a grocery shop. She wants to expand her business to earn more, hence she has applied for a microloan. She has five family members including one son who is in the school. She is quite worried for her son. Her husband also helps her in this business and her monthly income is Rs.1500/-(USD33).
Gulshan Begam sitting third from the left has a wall clock shop. She wants to buy clocks of modern designs and of branded company, hence she has applied for a micro loan. She has six family members including one son who helps her in this business. Her monthly income is Rs.1500/-(USD33). She also wants to earn more to improve the standard of living of her family.
Nigar Sultana sitting first from the right has a small hardware shop. She wants to expand her business and earn more, hence she has applied for a micro loan. She has five family members and her monthly income is Rs.1500/-(USD33).
Hasina Khatoon sitting third from the right has a shoes shop of very small size. She wants to increase her business and increase her income as her family needs are growing, hence she has applied for a micro loan. She has five family members including one son who is in the college. Her husband is a daily wage worker and her monthly income is Rs.2000/-(USD44).
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.
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| Comment about Rabiya Khatoon and 5 entrepreneurs 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= $600.0
Total Loan Amount= $1090.91
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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: Feb 27, 2010
Rabiya Khatun and all her group members are very thankful to all their guarantors for their help. Each of the group members received Rs. 8000/- as a microloan. She expanded her tea stall. Her income has increased from Rs.2000/- to Rs.3000/- and standard of living improved. Her savings has also increased a little bit. Ruby Parween has purchased two sewing machines and hired a person. After taking loan her income and standard of living has improved. Her income has increased from Rs.2000/- to Rs.3000/. Nishat Parween used this loan to purchase more items for her grocery store to fulfill the growing demands of her customers. Her son is attending to school and she wants to give higher education to her son.
The group members are happy to take loans from Ajiwika as it takes repayments from its clients monthly where as other MFIs operating in this area require weekly repayments which is quite difficult for the clients. Recently, Jharkhand was declared as drought affected state but their business did not get affected. They are doing well.
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Guarantors to this entrepreneur
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