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Santoshi Maa Group
In this Group: Ranju, Mamata, Sailabala, Binodini
In the year 2011, four women from Titilagarh town of Balangir district in Odisha, India, formed a group named Santoshi Maa to avail a loan from Mahashakti Foundation and expand their businesses. Binodini, a headstrong and confident lady, is one of them. She hails from a poor family living below the poverty line. The lady standing on the extreme left in the photo raising her hand is Binodini. She is 27 years old and lives with her husband; two sons, ages 12 and 10 years old; and her daughter, age 16. All her children are continuing their studies.

Binodini has been running a tiffin stall for the last 10 years with the hand-holding support of her husband. She also has a grinding machine in her house. Apart from this, her husband takes outdoor orders for making sweets items for marriage parties and social functions. Binodini makes a monthly income of 5,000 Indian rupees (INR) from the above business. With this income, she is hardly able to manage her household and the educational expenses of her children. So, she wants to expand her business by taking out a loan from Mahashakti Foundation. With the present loan, Binodini wants to purchase more stock of oil, dough, sugar, etc. This will help her to reduce her purchasing and transportation costs as she has to replenish her stock frequently. She also wants to use a portion of the loan to repair her tiffin stall. Binodini hopes to save enough to build a good house of her own as her present house is a small hut.

The other three members of the group are Ranju, Mamata and Sailabala who are running a barber shop, tiffin stall and tiffin push cart 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

  • $2,900
    Average annual income
  • 19
    View loans »
    India Loans Fundraising
  • $4,519,250
    Funds lent in using Kiva
  • 54.5
    India Rupees (INR) = $1 USD
Paying Back

This loan has been fully funded!

A portion of Santoshi Maa Group's $975 loan helped a member to pay for purchasing of oil, dough, sugar, etc.
0% repaid
Repayment Term
43 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Mar 25, 2013
Listed
Apr 18, 2013
Currency Exchange Loss:
Possible