Debaki is one of the members of this group, and has raised her hand in the photo. She is fifty years old, and her family consists of her husband, one son, her daughter-in-law and her mother-in-law.
Debaki has been running a small bakery factory in her house with the help of her husband for the last fifteen years. In the factory, bakery items like bread, cream roll, toast, etc. are being prepared. She has engaged four skilled laborers for the processing and making of bakery items. Her husband supplies the products to 3-4 nearby towns within a 20 km radius. Debaki earns a monthly income of 10,000 INR, which is not sufficient to materialize her dream.
Debaki says that owing to better quality, design, packing and forms of her products, there is a lot of demand from the locality, but due to shortage of stock, she is not able to meet her customers’ demands. She now wants to buy more raw materials to increase her production level to meet the demand and grab her customers. The present loan amount will be used by her to purchase raw materials like oil, sugar, dough, etc. in bulk, which will reduce her purchasing and transportation costs.
Debaki dreams to produce quality biscuit products, for which she has to hire professional workers from outside. She also wants to save money for completing her half-constructed house building.
The other three active members of the group are Panchali, running a milk business, and Kalpalata and Mithila, running hand-loom work successfully.
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!