Sabitri is running a multifarious business of computer and mobile service, photo studio, photocopy and cold drinks center with the help of her husband and two sons. Sabitri and her husband look after the cold drinks center which has been in existence for 20 years, and her sons manage the computer, mobile phone and photocopy center.
This is the second loan of Sabitri from Mahashakti Foundation. From the first loan she purchased a refrigerator for her cold drinks center. Looking into the present market demand, Sabitri wants to purchase cold drinks in bulk from the present loan to save unnecessary transport cost and frequent re-stocking of cold drinks. Sabitri says that out of the income from the present businesses she paid for her three daughters' marriages in a befitting manner and was able to send her son for completing his engineering degree in Hardwire. Considering the professional degree of her elder son, Sabitri hopes to open a photo lab and complete the marriage preparations of her two sons in an appropriate manner.
The other five members of the group are Puspanjali, Jyotsna, Gayatri, Sabitri-B and Bhagya who are running businesses like betel nut shop, tea stall, Tiffin stall, electrical repair shop and another Tiffin stall 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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This loan has been fully funded!