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Tirupati Swamy Group
In this Group: B.gurubari, Budu, Laxmi, Tunu, Tulasi*, Jasobanti
* not pictured
This group is called “Tirupati Swami” and was formed in the year 2009. Its six members are all women from a town called Muniguda. It is located in the district of Rayagada; one of the poorest districts in India.

One of the members of this group is Jasobanti. The one standing extreme left with raised hand in the photo is Jasobanti. She is a 37-year-old married lady, living with her husband, one daughter aged 17, and one son aged 15 who are continuing their studies. Jasobanti herself has been running a fancy-item store in Muniguda for the last two years. Her husband has also been running a fancy-item vending business for the last 12 years. He moves four days in a week to the local weekly markets to sell his fancy items.

Jasobanti sells items like bangles, talc, nail polish, clips, combs, mirrors, face cream, ribbons, etc. She says there is a lot of demand as it is a huge market with almost 40 villages depending on this market and that she does not have enough stock to meet the demand. She does not like saying “No” to her customers and wants to be able to give the best service to her customers. She now wants to buy more stock of what she is selling like bangles, talc, nail polish, clips, combs, mirrors, face cream, ribbons, etc. to increase her inventory level to be able to meet the demand and seize the business opportunity.

Over the period of four years Jasobanti has been able to add some assets like a TV and a bed and do some house repairs from her income. The present loan amount will be utilized by her to purchase increased stock in bulk which will reduce her buying costs. She hopes to save enough from her increased revenues for her daughter's wedding and construction of a house for her family.

The other five members of her group are Gurubari, Budu, Laxmi, Tunu and Tulasi with fish selling, fancy-item vending, fish selling, Tiffin centre (tearoom), leaf plate making & sweet making businesses.

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

  • $2,900
    Average annual income
  • 13
    View loans »
    India Loans Fundraising
  • $4,576,200
    Funds lent in using Kiva
  • 54.5
    India Rupees (INR) = $1 USD
Paying Back

This loan has been fully funded!

A portion of Tirupati Swamy Group's $1,550 loan helped a member to pay for purchasing bangles, talc, nail polish, clips, combs, mirrors, face cream, ribbons, etc.
0% repaid
Repayment Term
43 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Mar 25, 2013
Listed
Apr 17, 2013
Currency Exchange Loss:
Possible