Bhodebi and her husband run two businesses. Her husband manages a betel nut shop in the market area of her village and Bhodebi runs a general fancy store with fancy items like bangles, talc, plastic items, cosmetics, ornaments etc. in her house. Prior to this business, Bhodebi’s husband was running a well-established general store in the market yard. But due to jealousness of some of the vested interest people in her village, her husband was forced to close the business. During that period, her family was leading a very pitiful life due to acute financial problems. This situation compelled her to find ways and means to maintain her family. So Bhodebi, in consultation with her husband, mortgaged her gold ornaments for 10,000 INR and started the fancy store with a low profile. Now her fancy store is running well. Bhodebi brings stock from different towns. Presently, she is selling fancy items worth 300 INR to 500 INR per day from which she gets 15 to 20% profit. From this small income, she barely manages her family's expenses. So she wants to increase the volume of her business to increase the income. From this loan of 10,000 INR, Bhodebi wants to invest the entire amount to purchase different varieties of bangles
Bhodebi is confident enough to have a business of her own and hopes to give a better education to her two sons.
The other four energetic group members are Manjulata, Bhubaneswari, Bhaktilata and Puspanjali who are running a stationary store, and egg center, a footwear center and a puffed rice business, 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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