Chaimani has had a bakery factory for the last 15 years with the active support of her husband. Chaimani gets a monthly income of Rs. 8,500 (INR) from the above business. Out of this income, she hardly is able to manage her household expenses. She needs financial support from Mahashakti to purchase sugar, wheat, whole wheat, oil, etc. for making bakery items. She also wants to invest some portion of the loan for the repair of the factory.
In the year 2010, Chaimani, along with other women members of the locality, formed a group named Shaktimayee to avail a loan from Mahashakti Foundation to expand their businesses. This will be their third-cycle loan.
The other three members of the group, Noorjahan, Salimun and Saira, want loans for a meat shop, motor garage and bag 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
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This loan has been fully funded!