One of the members of this group is Laxmi. The lady sitting second from left raising her hand in the photo is Laxmi. She is the Group Leader. She is 26 years old, living with her husband, her daughter aged 7 and her son aged 3. She has been involved in the leaf plate business for the last 15 years. She makes plates woven out of dry leaves at her house and local traders in the village come and collect them every week. She makes 1000-1500 plates in a week. These plates are biodegradable, disposable, hygienic, and an inexpensive alternative to modern paper or plastic utensils. These are widely used by local food stalls and hotels to serve food.
Laxmi gets the supply of the leaves and bamboo twigs used for stitching from the local sellers in the market and sun-dries them for two days to make them ready to be stitched. Presently, the stock she buys from the local sellers is enough for her to make leaves for one day and sell the next day. She wants to have enough stock to support her business during the monsoon as well when she cannot get dry leaves. A portion of the loan will be utilized by her to buy more stock of leaves and bamboo twigs.
Laxmi also wants to buy a buffalo for milking and sell the milk to local hotels and tea stalls. She believes her established contacts with hotels and food stalls through her existing business will make it easier for her to sell the milk. This additional income will supplement her income during bad weather times where it might be difficult to dry leaves. Laxmi dreams of building a small concrete house for her family and giving a proper education to her children.
The other three members of her group are Bhagya, Tulasa and Amika; they are also doing the same business as Laxmi. Since the formation of Ganga, all members of the group have been working hard and continue to work with unity, honesty and sincerity under the leadership of Laxmi.
Important note about this loanDue to Indian government regulations, if you fund this loan, you will not be repaid for at least 3 years. This borrower will likely repay your loan much sooner than that, in which case, the Field Partner may re-loan your funds to help other local borrowers. We want you to be aware of this minimum 3-year waiting period and the associated risks before making a loan to Indian borrowers on Kiva. Learn More >
About Mahashakti Foundation
Mahashakti Foundation is a public charitable trust that provides microfinance and development services in the low-income state of Odisha. Operating in the poorest region of India, the organization strives to serve rural communities, tribal groups and others living on less than USD$1 a day. In addition to microcredit, it also provides micro-savings and micro-insurance products, as well as business development, health, water and sanitation, and food security services.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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