Maa Baisnabi Group
Kakaya has been running a general store in her locality for the last 15 years with the help of her husband. She sells general grocery items like rice, oil, sugar, tea, soap, washing powder, lentils, biscuits, soft drinks, toffees, eggs, etc. All types of daily need items are available in her store. Her husband is a very amicable person. He is always cheerful with the customers. Her net monthly income from the existing business is Rs.10,000. Out of this income, she has been able to contribute to the household expenses like the educational expenses of her children. Kakaya purchases stock for her business on a weekly basis from the wholesalers in her town. As per her statement, she was able to increase the variety of items in her shop but not the inventory. She wants to increase the stock in her business with this loan by purchasing items like lentils, soap, biscuits, spice items, etc. for her general store from the nearest wholesale market, which is 200 kms away. This will help her to reduce her purchasing costs and save time as she has to refill her stock frequently. Kakaya dreams of providing a better education to her children as she believes that education is the pillar of all success. The other three members of the group are Malati, Basanti and Ratna. They are running a Tiffin stall, a bamboo basket making and selling business and a tailoring business, respectively.
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!