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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 Abida Khatoon and 6 entrepreneurs,Banha |
Abida Khatoon has a small electronics shop which she runs with her husband. She wants a microloan to buy products of better quality as customers are becoming more quality conscious. She has four family members including one son who attends a nearby school. She wants to give her son higher education. Her monthly income is Rs.2000 (USD44).She is the group leader who organizes monthly meetings and ensures all repayments are made on time. She is sitting second from the left in the above group photo.
Aklari Begam (Photo-2) runs a small ayurvedic shop at her home ( Ayurveda is an ancient form of medicine practiced in India - http://en.wikipedia.org/wiki/Ayurveda). Her customers are increasing and are demanding branded products, hence she has applied for a micro loan. She also wants to increase her income as the needs of her family are increasing. She has five family members including one son and one daughter who go to school. Her husband is a daily wage worker. Her monthly income is Rs.2000/-(USD44). She is sitting second from the right in the group photo.
Jamila Khatoon sitting first from the left in the above group photo does centring work with her husband. She wants to buy some equipment for this business, hence she has applied for a microloan. She wants to earn more to improve the standard of living and to meet the future requirements. She has five family members including one son and one daughter who go to school. Her monthly income is Rs.1500/-(USD33).She is quite worried about the future of her children.
Afda Khatoon sitting third from the left has a tailoring 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. She has four family members including one son who goes to school. Her monthly income is Rs.1500/-(USD33).
Amana Khatoon sitting first from the right provides auto rickshaw service with her husband. Her customers are increasing day by day. She wants to hire an auto and a driver. Hence she has applied for a microloan. She has four family members including one daughter who goes to school. She also wants to earn more to meet the growing needs of her family and to deal with contingencies. Her monthly income is Rs.1500/-(USD33).
Sahnaj Khatoon sitting third from the right has a small wall clock shop. She wants to capitalize her business to buy clocks of modern design as customers demand is changing, hence she has applied for a microloan. She has four family members including one son who attends a nearby school. Her husband is a daily wage worker. 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 Abida Khatoon and 6 entrepreneurs,Banha 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
Abida 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. After taking loan she has purchased products of different qualities to attract more customers. Due to increase in customers her income has also increased from Rs.2000/- to Rs.3000/- per month. Afda Khatun runs a tailoring shop. After taking loan she has purchased one sewing machine and has hired one person. She has also moved her shop to a road side where she gets many customers. Now she also saves some amount for the future requirements.
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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