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Maa Gangadi Group
In this Group: Saratmanjari, Tulasilata, Bandana, Maharagi, Sasmita
Sasmita, the featured member, is sitting on the extreme left with her hand raised in the photo. She is a young lady of 25 years who resides in the village of Thakpali in the Khariar block in the Nuapada district of Odisha, India. She has formed a group named Maa Gangadi (an adorned deity of the locality) consisting of five members of the same village. Sasmita’s family is comprised of five members: her husband and three daughters who are seven years old, three years.old, and 6 months old. She hails from a Below Poverty Line family. (BPL). Her elder daughter is studying in the second standard. Though her husband has a small piece of land that can be cultivated, due to financial scarcity, he was not farm able to cultivate the land and was forced to do the business of supplying dry food items like snacks, tea, mixture etc. by bike and selling in the nearby villages. To add to this, her husband has completed graduation but due to bad luck, he failed to get a job.

Sasmita has been running an incense stick making business at her home for the last four years. Her husband goes to a wholesale market 200 km away once a week to bring home raw materials like raw sticks. She was impressed and preferred to start the business to add some income to her family. To cater to the educational expenses of her children, she intends to increase her income. With the present loan, Sasmita wants to maintain raw materials like raw sticks, perfumes, chemicals etc. for one month so that she can save time, money and energy, which can be otherwise used in productive work. Within this period, she will prepare and sell her product in bulk quantity. Sasmita has a long desire to educate her daughters in a better school for a better future, and construct a house for her residence and business, thereby improving her living conditions.

Saratmanjari, Tulasilata, Bandana and Maharagi are the other four members of the group. They are running a cloth business, a milk business, a grocery shop and a footwear business, respectively.

Additional Information

More information about this loan

Mahashakti Foundation focuses its work in some of the most underdeveloped districts in Odisha, characterized by poor infrastructure and high levels of poverty. By supporting this loan, you are enabling access to finance for women living in some of India's poorest and most remote areas.

Important note about this loan

Due 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.

About India

  • $2,900
    Average annual income
  • 1
    View loans »
    India Loans Fundraising
  • $4,392,250
    Funds lent in using Kiva
  • 55.4
    India Rupees (INR) = $1 USD
Paying Back

This loan has been fully funded!

A portion of Maa Gangadi Group's $3,250 loan helped a member to purchase perfumes, raw sticks etc.
0% repaid
Repayment Term
43 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Sep 5, 2012
Listed
Sep 13, 2012
Currency Exchange Loss:
Possible