Lutan Devi and 4 entrepreneurs,Baxsi Bandh
Loan requested $909.09
Loan issued $909.09
Funds raised $500.00
Funds released $0.00
Sector Retail
Repayment term in months 18.0


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About Lutan Devi and 4 entrepreneurs,Baxsi Bandh

Lutan Devi has a betel shop at her home. She wants to expand her business to increase her income, hence she has applied for a microloan. She has five family members including one son who is daily wage worker. She wants to earn more to improve the living condition of her house and save something for the future. 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 first from the left in the group photo. Jaso Devi (Photo-2) has a cycle store. She wants to capitalize her business as customers are increasing, hence she has applied for a microloan. She has five family members including two sons who help her in this business. Her monthly income is Rs.2000/-(USD44). She is sitting second from the left in the group photo. Durga Devi sitting in the middle has a small betel stall. She wants to expand this business to increase her income, hence she has applied for a microloan. She has four family members including one son who attends a nearby school. Her monthly income is Rs.1500/-(USD33). Her husband also helps her in this business. She wants to her son to have higher education and hence she wants to prepare him for that accordingly. Nirmala Devi sitting first from the right has a cell phone repair shop. She wants to buy some equipment for this business, hence she has applied for a microloan. She has five family members including one son who helps her in this business. Her monthly income is Rs.2000/-(USD44). Gaytri Devi sitting second from the right has a small tailoring shop which she runs with her husband. She has earned a good name in her locality for her excellent work, hence her customers are increasing. She wants to buy two sewing machines and hire two persons so she has applied for a microloan. She has four family members including one daughter who attends a nearby school. 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

Lutan 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. She expanded her shop to fulfill the growing demands of her customers. Her income has increased from Rs.2000/- to Rs.3000/- and standard of living improved. Gayatri Devi purchased two sewing machines with the loan amount and serving her customers. Her savings has also increased a little bit. Jaso Devi expanded her cycle shop and serves more customers. This loan has brought a change in her life. Her monthly income has increased from Rs.2000/- to Rs.3000/- and she is living happily. 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.

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Funders to this entrepreneur

Dr. J - magician
Andreas
Sverre Skimmeland
Investor Image
Anonymous
Derrick
Andreas
Ivar
Geoff
Kris
Investor Image
Lalitha J S
Grant
rajkishoreg
The Imran Family
Supriya & Bala
Investor Image
Abhishek
 
 
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