Tara Tarini Group
Alibha, a headstrong and confident lady, is one of them. The lady sitting middle in the photo raising her hand is Alibha. She is 39 years of old and lives with her husband, two sons, 20 and 14 years old, and her daughter, age 12. All her children are continuing their studies. Her elder son is studying for an engineering degree. Although Alibha is a permanent resident of Titilagarh, due to a residential problem her family is residing in a rented house in the same town.
Alibha has run a mixture and fried peanut supply business for the last seven years with the hand-holding support of her husband. She purchases raw peanuts in bulk, fries them, makes small packets in polythene and her husband supplies them to retailers at a wholesale price. Apart from this, she also supplies mixtures at wholesale. Alibha usually supplies 300 kilograms of fried peanuts to the retailers in a week. She purchases stock of peanuts from three wholesale markets 200 kms away. She gets a monthly income of INR 5,000 from the existing business.
Out of this income she is hardly able to manage her household and the educational expenses of her children, especially since her elder son is studying for his engineering degree at a distant place. Money poses a hindrance for managing all these expenses from her scanty income. So she wants to expand her business by taking a loan from Mahashakti Foundation. Alibha wants to purchase more stock of raw peanuts from the present loan. This will help her to reduce her purchasing and transportation costs as she usually has to replenish her stock frequently.
Alibha hopes to save enough for building a good house of her own as the present house is a rented one. She has also dreams to give better education to her children.
The other four members of the group are Ranjulata, Bhanumati, Puspanjali and Surendri, who are running meals hotel, screen printing, tea stall and daily needs businesses respectively.
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 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!