One of the group members is Bijayalaxmi. The lady standing third from right raising her hand is Bijayalaxmi. She is 50 years old, living with her husband. She is a very active lady and loves to cook. She has been running a local snacks business at her house with the help of her husband. She initially started with two varieties and slowly expanded to selling six different varieties now. She worked hard and got her only daughter married into a good family.
She cooks local snacks like 'Papad' (locally popular food item that is round and eaten fried in oil or roasted over fire), home-made chips, and "jhalmuri" (puffed rice, potato, red chili powder, and salt mixed together) and packages them, making them ready to be sold. Jhalmuri is one of her specialties and she likes receiving compliments for her food from others. Her husband travels to the surrounding villages selling to local shops there. He travels almost 60km in a day, 4 days a week. She spends almost 10 hours a day making these snacks and her husband sells them the next day. She makes snacks every alternate day and her husband sells the next day. Earnings from the previous day's sales are the investment for the next day's cooking. She now wants to stock up raw materials like spices, rice, cooking oil, and black lentils to make enough so that they have enough stock to sell for all week. A portion of the loan will be used by her to buy the raw materials needed in bulk which will reduce transportation and buying costs.
She hopes to hire some workforce to help her make snacks on a larger scale so that she can sell directly from her house to the local retail shops.
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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This loan has been fully funded!