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Laxmipriya Group
In this Group: Janhabi, Nilendri, Laxmi, Karuna
Laxmi is the leader of a group that hails from Muniguda village of Rayagada district of Odisha, India. She is a widow of 50 years of age. The member sitting first from the right with raised hand is Laxmi. She is managing a vegetable vending shop in her locality. Laxmi has three daughters aged about 22, 20 and 14 years.

Along with three other members from her village, Laxmi formed a group and applied for a loan from Mahashakti Foundation for expansion of their existing businesses during 2012. This is the second time the group will take a loan from Mahashakti.

Out of their small income they are maintaining their family in a low profile. At present Laxmi's monthly income is Rs.4, 500 only. Although the income is very low, still Laxmi has a habit of putting aside savings with a vision for the marriage of her daughters in a respectable family.

After learning the business procedure and other knowledge, Laxmi wants to increase the volume of her business. Now she wants a loan to purchase curley flower, tomatoes, potatoes, onions, garlic, ginger, cucumbers, pumpkins, green nuts, brinjal, drum sticks, etc. For better sales she also goes to weekly markets of nearby villages to sell her vegetables. In future she wants to establish a wholesale grocery shop in her village.

The other three members of her group are Janhabi, Nilendri, Karuna. They have a fancy shop, dry food business and sweets business in the village respectively.

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.

About India

  • $2,900
    Average annual income
  • 1
    View loans »
    India Loans Fundraising
  • $4,588,425
    Funds lent in using Kiva
  • 62.0
    India Rupees (INR) = $1 USD
Paying Back

This loan has been fully funded!

A portion of Laxmipriya Group's $700 loan helped a member to purchase curley flower, tomatoes, potatoes, onions, garlic, ginger, cucumbers, pumpkins, green nuts, brinjal, drum sticks, etc.
0% repaid
Repayment Term
43 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Feb 11, 2014
Listed
Feb 17, 2014
Currency Exchange Loss:
Possible