Maha Shakti Group
Belmati has been running a spice items vending business with items like chilly, cumin seeds, coriander, turmeric, garlic, etc. for the last 10 years. Her husband goes to six weekly markets of her locality every week with bulk of items on a moped and sells in the market. Her monthly income from the existing business is Rs.3000. Out of this income she can hardly manage her household expenses. She wants to increase the stock of her business, so the loan amount will be utilized to purchase items like chilly, coriander, cumin seed, etc.in bulk to keep the business stocked for a month. This will help her to reduce her purchasing and transportation costs as she will replenish her stock frequently from the nearest market and she can add a substantial income to her present income.
Belmati hopes to purchase a bike to run her business smoothly with sufficient items and to build a house. The other three members of the group are Deimati, Bela and Rekha who are running a general grocery shop and vegetable vending 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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This loan has been fully funded!