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Mahalaxmi Group
In this Group: Manjulata, Bhubaneswari, Bhaktilata, Puspanjali, Bhodebi
Bhodebi is an active married lady who is 25 years old and a permanent resident of a rural village called Luthurbandh in Titilagarh block of Boalngir district of Odisha, India. Bolangir district is one of the underdeveloped areas of Odisha with 80% rural population. The young lady sitting in the first row with her hand raised is Bhodebi. She resides with her husband, two sons who are four and two years old, and her father and mother in-law. To increase the income of her family, in the year 2010, Bhodebi, along with four like-minded women of her village formed a group named Maha Laxmi and received a loan from Mahashakti Foundation.

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.

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

  • $4,000
    Average annual income
  • 173
    View loans »
    India Loans Fundraising
  • $5,194,075
    Funds lent in using Kiva
  • 54.9
    India Rupees (INR) = $1 USD
Paying Back

This loan has been fully funded!

A portion of Mahalaxmi Group's $1,225 loan helped a member to purchase bangles.
0% repaid
Repayment Term
43 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Oct 18, 2012
Listed
Nov 18, 2012
Currency Exchange Loss:
Possible