Radha Krushna Group
Mukula is a very energetic and hard-working lady. Traditionally she is running a cloth weaving unit in her house. Presently she has three hand looms for weaving of saris. Mukula has engaged two skilled laborers to help her in weaving. Mukula pays Rs.100/- as labor charges to the weavers. Her husband also weaves saris in the first half of the day and in the second half moves to different villages by bike for selling. From this business Mukula earns a net income of 6,000 INR which is not sufficient to manage her family and plan for future. Her husband brings raw materials (yarn/thread) from a nearby town on both cash and credit basis and gives the finished products to the same merchant, which does not give fair returns. So she is planning to utilize the whole loan amount to purchase more stock of yarn.
This will help her to arrest some unnecessary expenses resulting from frequent movements to bring in raw materials. The role of Mukula in the business is to do the work of processing yarn. Mukula wants to save some money for the marriages of her two sons in the near future and construct a house. The other four members of the group are Lalita, Anjali, Kshiramati and Dhanmati who are doing jewellery-making work, general store, tailoring and cloth weaving businesses.
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
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This loan has been fully funded!