Nupi Sintha Group
Memcha is the profiled member pictured with her hand raised. She studied up to class VIII. Now she is 51 years old and is a mother to a daughter and two sons who are already in their late 30’s. All her children are school dropouts due to the poor conditions of the family. Her husband is a farmer by profession and is a daily wage earner. In order to supplement the family income, she has been running a pickle store with a small budget to earn income. Due to insufficient capital, she can never upgrade her store with other products to sell other than a few eatables and self-made pickles.
In 2010, with her first loan, she bought stocks to sell for profits. She used the loan to stock grocery items to sell such as onions, tomatoes, dal, cooking oil, fermented fish, sugar, milk and varieties of eatables. Her wish to expand her store business was fulfilled, for which she is ever grateful. With the sale of the store stocks, she collected larger profits that she used wisely. With her second loan too, she bought store stock to sell. With the saved profits, she renovated her store by making proper shelves to stack the items. Apart from the loan liability, she was able to save as much as INR 700 per month by way of local savings with 25 other members, where the total money collected monthly is utilized on a rotating basis.
Since her children are coming of age, she wishes to build and provide a good house for them. She also plans to purchase a paddy field for the family's sustainability, where she can keep her two sons engaged and busy with something useful. With the expansion of her store business, she let her daughter manage the store while she helped her two sons with their quarrying activities to increase their income.
She needs another loan to continue with her general store business. She will use the loan to stock fresh products to sell at her store. With steady improvement and with the loan, she is making progress towards expanding her store. Likewise, the rest of the group members too wish to do better with their respective income-generating activities.
More information about this loan
This loan is part of WSDS's effort to reach some of the most underserved parts of India's troubled northeast region, where there is very poor penetration of both formal and informal financial services. By supporting this loan, you are enabling access to finance for women living in some of India's 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 >
WSDS-Initiate is an inclusive nonprofit that works with women across all tribes and minority communities in Manipur, located in the remote northeast region of India. Most organizations concentrate their work in the plains region of Manipur, but WSDS is among the very few organizations serving women in the isolated hills. Political unrest and frequent economic blockades in the area make it very difficult to provide services, resulting in Manipur having the lowest penetration of financial services in the country.
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!