Boilen Lom Group
The group members reside in a village which is about 40 kms away from the capital city of Manipur, in the northeastern side of India. With younger siblings to take care of and a weary mother, life was not easy for Martha. Her friends motivated her to join the group, and she availed the loan and started her own retail shop.
She runs a variety shop at the local market, which is about a three-minute walk from home. She started her business by selling mobile recharge vouchers and gradually refilled her recharge voucher shop with daily essential items like detergent soap, detergent powder, shampoo sachets, etc. for sale. The shop is also refilled with candies, chocolates, sweets and other cosmetic items.
She is making a fine profit and also started saving. She gets the stock from the main city market and also from people who trade items through the Army Canteen. She says it is profitable to purchase stock from the Army Canteen. The profit is high because the goods are purchased at a low cost price and can be sold at a market price.
She wanted to use the savings that she manages for refilling her shop with different items. She says the amount is small; therefore she was still waiting for another few months. God still favors her because when she was really in need for a capital amount, Kiva came into the limelight.
With the assistance of a Kiva loan, and together with her small savings, she is planning to purchase women’s wraparound skirts exported from the neighbouring states like Mizoram, Nagaland and Meghalaya. She says the main costume for women in the state is wraparound skirts, which she believes is a good trade for earning. It will not be a difficult business because the market is large in respect to women’s wraparound skirts.
Martha says, “It is a wonderful experience for me that people from far-flung countries help us in our needs. Thanks to Kiva and may God bless.”
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!