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| Loan requested |
$1091.65 |
| Loan issued |
$1091.65 |
| Guarantee raised |
$600.41 |
| Sector |
Retail |
| Repayment term in months |
18.0 |
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| About Bandana Devi & 5 entrepreneurs, Chakri Pahar |
Bandana Devi has a small grocery shop at her home. She wants to invest in it to expand the business. Hence she has applied for a micro loan. She has six members in her family including two sons and two daughters who are now in school. Her monthly income is Rs 3000/-(USD66). She is the group leader who organizes monthly meetings and ensures all repayments are made on time.
Shanti Basri sitting in the middle of front row. She has a small dairy farm. She wants to buy some cows; hence she has applied for a micro loan. She has three family members including one son who is in the school. She wants to earn more to get her house repaired and improves the standard of living and her monthly income is Rs 3000/-(USD66).
Merkhi Devi sitting first from the right of front row of the group photo. She has a small dairy farm. She wants to buy some cows and goats, hence she has applied for a micro loan. She has four members in her family and her monthly income is Rs 2500/-(USD55). She wants to earn more to get improve the standard of living.
Rupa Devi sitting first from the right in back row has a small dairy farm with some cows and few goats. She wants to earn more hence has applied for micro loan to buy more goats and supply the milk to the nearby market place and also in her locality. She has three members in her family including one daughter and her monthly income is Rs 2500/-(USD55).
Sila Devi sitting in the middle of back row has a small grocery shop at her home. She wants to invest in to expand the business. Hence she has applied for a micro loan. She has big family with eight members including four daughters and two sons. Her monthly income is Rs 3000/-(USD66).
Milo Devi sitting first from the left in back row. She has a small dairy farm in her house. She supplies milk to her nearby locality. She wants to buy some more cows to earn more profit and hence applied for micro loan. She has a big family with eight members including two daughters and four sons. One of her sons is a daily worker and her monthly income is Rs 2500/-(USD55).
These entrepreneurs are very dedicated and want to do good for themselves and their families. They understand the concept of a Joint Liability Group. In case any member is unable to repay the micro loan, they will pay on 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 Bandana Devi & 5 entrepreneurs, Chakri Pahar 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= $600.41
Total Loan Amount= $1091.65
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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: Apr 12, 2010
Bandana Devi and all her group members are very thankful to all their guarantors for their help. She has purchased more items for her grocery store to meet the demands of her customers. Her business has increased and her income as well. Before taking the loan her income was Rs.3000/- and now her income is Rs.4000/-. Her children are attending a nearby school. She wants to give them better education. Due to the increase in income her standard of living has also 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.
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Guarantors to this entrepreneur
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