From the present business Tapaswini earns 200 INR per day, which is hand to mouth for her. Due to this situation, till now she has not been able to construct a good house for her family. So these poor circumstances compel Tapaswini to search for a credit source for the expansion of her business. To fulfill her dream, In the year 2013 Tapaswini, along with other four poor women from her village, formed a Joint Liability Group named Bublen. She has applied for a loan from KIVA partner Mahashakti Foundation for further expansion of her husband’s business. She will use the loan to buy bicycle repair tools and spare parts in larger quantities, which will help her provide better services to her clients and increase her profits. Tapaswini hopes to build a permanent cycle repairing cabin in her village.
The other four members of the group are Sunanda, Saraswati & Basanti with puffed rice businesses and Rebati with a tailoring center.
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!