Rinku Devi and 5 entrepreneurs,Kumarpara
Loan requested $1090.91
Loan issued $1090.91
Funds raised $600.00
Funds released $0.00
Sector Retail
Repayment term in months 18.0


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About Rinku Devi and 5 entrepreneurs,Kumarpara

Rinku Devi has a small cloth store at her home. She wants to move her shop to a market place as she wants to earn more to fulfill the growing needs of her family. Therefore she has applied for a microloan. She has four family members including one son who attends a nearby school. She wants to give her son a bright future. Her husband is a daily wage worker. 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 third from the left in the group photo. Jamila Bibi (Photo-2) has a flour shop. She wants to expand her business as customers are increasing, hence she has applied for a microloan. She has five family members including one son and one daughter. Her monthly income is Rs.2000/-(USD44). Her husband also helps her in this business. She is sitting second from the left in the group photo. Jugnu Khatoon sitting first from the left in the group photo has a fruit shop of very small size. She wants to grow her business and earn more, hence she has applied for a microloan. She has four family members including one son who is in the school. Her monthly income is Rs.2000/-(USD44). Her husband is a daily wage worker. Nagiman Bibi sitting first from the right has a tailoring business. She has many customers. She wants to buy two sewing machines and hire one person to provide good service to her customers, hence she has applied for a microloan. She has five family members including one son who attends school. She wants to give her son a bright career. Her husband also helps her in this business. Her monthly income is Rs.2000/-(USD44). Najma Khatoon sitting second from the right has egg shop. She wants to increase her income by expanding her business as day to day requirements of her family are increasing , hence she has applied for a microloan. She has six family members including one son and one daughter who attend school. Her husband helps her in this business and her monthly income is Rs.1500/-(USD33). Sabana Khatoon sitting third from the right has a cosmetic shop. She wants to capitalize her business to buy products of improved quality, hence she has applied for a microloan. She has five family members including one son and one daughter. Her son is a daily wage worker and her monthly income is Rs.2000/-(USD44). She also wants to earn more to get her daughter married. 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 = $600.0
Total Loan Amount = $1090.91

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

Rinku 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. Jugnu Devi used this loan to purchase more variety of fruits and expand her fruit business. Nagiman Bibi purchased one sewing machine and has hired one person. Before taking loan her income was Rs.2000/- and after loan her income is Rs.3000/-. Najma Khatun expanded her egg shop after taking loan and serving more customers.

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Funders to this entrepreneur

Dr. J - magician
Sverre Skimmeland
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Anette
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Bill
Derrick
Andreas
Supriya & Bala
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Anonymous
Geoff
Kris
Braden
 
 
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