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Sri Purusottam Group
In this Group: Padmabati, Damayanti, Basanti, Pramila , Hema
Tukla, located in the Nuapada district of Odisha, India is a rural village. In the year 2009, five women from the weaving and cloth business community stepped out and decided to build a secure future for their families with their contributions. They formed a group named Sri Purusottam to take a loan from Mahashakti Foundation for the development of their existing businesses. Since then, the group has already taken four loans from Mahashakti Foundation and has successfully repaid the loans.

Damayanti is the one standing in front with her hand raised in the photo. She is 25 years old and lives with her husband and two sons of 12 and 9 years old. Damayanti hails from a traditional cloth weaving community. She has been running a cloth weaving & selling business with her husband. Presently, she has two hand looms for weaving saris. Her husband purchases the yarn/thread from a trader 20 km away from her village. They knit 80 to 100 pieces from a bundle of yarn, which costs around 10,000-15,000 rupees. She only produces saris because of the demand in the market. Damayanti makes two pieces of sari per day. Apart from this, she also purchases ready made garments from the local market. Her husband goes to weekly markets to sell the clothes. From this business, she earns a monthly income of Rs 7,000, which is not sufficient to make her future dream materialize. With the present loan of 48,000 INR, she wants to buy bulk quantities of thread/yarn and ready-made garments to increase her income. Purchasing in bulk will help her to reduce the purchasing & transportation costs of the raw materials. Damayanti wishes to grow her business and save enough to construct a good house.

The other four members of the group are Pramila, Basanti, and Hema who are doing a cloth business and Padmabati, who is running a general store.

Additional Information

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 loan

Due 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.

Tags

About India

  • $4,000
    Average annual income
  • 76
    View loans »
    India Loans Fundraising
  • $4,835,525
    Funds lent in using Kiva
  • 61.6
    India Rupees (INR) = $1 USD
Paying Back

This loan has been fully funded!

A portion of Sri Purusottam Group's $3,900 loan helped a member to purchase thread/yarn and ready made garments.
0% repaid
Repayment Term
43 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Jan 9, 2014
Listed
Jan 18, 2014
Currency Exchange Loss:
Possible