Rekha Devi and 4 entrepreneurs,Satar
Loan requested $909.09
Loan issued $909.09
Funds raised $500.00
Funds released $0.00
Sector Livestock
Repayment term in months 18.0


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About Rekha Devi and 4 entrepreneurs,Satar

Rekha Devi has a small dairy farm. She wants to buy some cows, hence she has applied for a microloan. She has five family members including one son who goes to school. She wants to earn more to get her house repaired and improve the standard of living. Her husband is a wage daily worker. Her monthly income is Rs.1500/-(USD33). She is the group leader who organizes monthly meetings and ensures all repayments are made on time. She is sitting first from the right in the group photo. Sushma Devi (Photo-2) also has a dairy farm. She also wants to buy some cows to meet the growing demand for milk, hence she has applied for a microloan. She has six family members including one son who is a daily wage worker. Her monthly income is Rs.2000/-(USD44). She is sitting first from the left in the group. Mamta Devi sitting second from the left has fish business. She wants to earn more by expanding her business, hence she has applied for a microloan. She has four family members including one daughter who goes to school. Her husband is a daily wage worker and her monthly income is Rs.2000/-(USD44). Kari Devi sitting at the centre has a dairy farm. She wants to buy some cows, hence she has applied for a microloan. She has five family members including one son who is a daily wage worker. Her husband helps her in this business. Her monthly income is Rs. 2000/-(USD44). Putul Devi sitting second from the right also has a dairy farm. She wants to buy some buffaloes to meet the growing demand for milk, hence she has applied for a micro loan. She has five family members including one son who 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.


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 = $500.0
Total Loan Amount = $909.09

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: Feb 27, 2010

Rekha Devi 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 has purchased two cows. Now she is able to supply milk to more customers. Due to the increase in income her standard of living has also increased. She also repaired her house. Mamta Devi used her loan amount in her fish business. she used to save some money now as her monthly income increased from Rs2000/- to Rs 3000/-. Her daughter is continuing her school. 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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Funders to this entrepreneur

Tom
Dr. J - magician
Sri
Geoff
Andreas
Sverre Skimmeland
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Marianne
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Bill
Derrick
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Jesus Friend
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Ash
Jan
Andreas
Jim
Supriya & Bala
Anonymous
Kris
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friendsofindia
 
 
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