Maya Devi and Group, Dhatkidih
Loan requested $877.19
Loan issued $877.19
Funds raised $482.46
Funds released $0.00
Sector Livestock
Repayment term in months 18.0


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About Maya Devi and Group, Dhatkidih

Maya Devi owns a few cows and earns her living by selling milk in the market. She has 4 children, 2 of them are in college and 2 in school. She has applied for a microloan to purchase a cow and fodder. She is a member of the Dhatikidih Joint Liability Group I. The group photo is of Dhatkidih Centre. The ladies sitting in the row on the left are the members of Dhatkidih JLG I. The lady sitting in the front on the left row, Bindu Devi, is the group leader. She organizes monthly meetings and ensures that repayments are on time. She has applied for a microloan to purchase a sewing machine. Sitting behind her is Shanti Devi, she has applied for a microloan for her grocery shop. Sitting behind her is Savitri Devi, she has applied for a microloan for her cloth store. . Vidhika Devi sitting in the last row has applied for a microloan to purchase a cow. 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.


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 = $482.46
Total Loan Amount = $877.19

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: Dec 15, 2009

Maya 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. Maya Devi was able to purchase two cows and feed with the loan. She is now able to supply milk to more customers. Her income has increased from Rs.2000/- to Rs.3000/- and her standard of living has increased a little bit. She is also able to save something. Her children are happily attending school. Bindu Devi has was able to purchase one sewing machine, hire one person and furnish her shop. She is now able to serve her customers better. This loan has increased her income and savings. Shanti Devi has purchased more products for her shop allowing her to fulfill the growing demands of her customers for different products. She is happy that her income has increased. 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. After repaying this loan they want a bigger loan to expand their businesses further.

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Looking at the rate of repayments of the loan, it looks like this and most other groups are making very good progress. Naturally there might be seasonal changes, but so far this is looking very positive!
Posted by Andreas on   07 Jan 2010 03:13 AM

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Good luck for your business!
Posted by P2P-Banking.com on   09 Jun 2009 12:24 PM

Funders to this entrepreneur

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Anonymous
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Anonymous
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SK
The Imran Family
P2P-Banking.com
Geoff
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David
Christy
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Anonymous
 
 
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