Jaya Ram Group
The business of Basanta (weaving bamboo baskets) is a traditional business in her community. Basanta and her husband do the processing work and weave baskets of different shapes and sizes. They sell their products in the nearest weekly market in their town. Some traders also regularly come to this village to purchase bamboo products. Basanta earns a monthly profit of Rs 2,000/- from her business. As there is a growing demand for these products to supply to various parts of the country, Basanta wants to purchase more raw bamboo with this loan amount to work for a longer period without any interruption for more output. This will help her to earn some extra income to manage the family smoothly. Basanta hopes to construct a house in the near future.
The other five members of the group are Udia, Sushama, Balamati, Tarulata and Subidha who are doing similar 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
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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