Greens Grama Devathe-Sharadal Group
Mahadevi is 35 years old, married and the mother of three children. She did not have the opportunity to study, so she is making sure her children are educated. Her two kids are going to school while the other one is still a baby. Mahadevi and her husband work in agriculture fields as daily wage workers and earn Rs. 120 each per day.
The loan she is receiving now will be used to buy more sheep and goats. She will acquire the animals in her community, raise and sell them. This enables her to generate income so that she can support her family. She hopes to save enough to send her children to school and educate them. She also would want to expand her house.
This is the first time they are taking a group loan. The other members are Jainabhi, Chandabhi, Fatima and Lakshmibhayi. They all want loans for the same purpose and they all are daily wage workers on farms.
More information about this loan
This loan is designed to provide financing, business consulting, input facilitation, market linkage, and resource management services to marginalized agricultural laborers in rural areas of Karnataka. MicroGraam’s partnership with the non-profit organization Future Greens Samsthe has made this loan possible. By funding this loan, you are helping to bring fair market access and productivity enhancement to laborers in India through enterprise financing and support.
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 >
Additionally, this loan may be post-disbursed, in which case this borrower will only receive the loan after it has been 100% funded by Kiva lenders. Because it is difficult to predict when a loan will be fully funded, the disbursement date may have been estimated by the Field Partner and may be inaccurate by several days or weeks.
MicroGraam is a Bangalore-based, crowd-funding lending platform that aims to promote development and growth throughout India by providing underserved populations with access to formal loan capital.
In order to provide critical capital in remote areas of India, MicroGraam collaborates with various partners located across the country, applying a structure very similar to Kiva’s. The organizations currently provide clients -- most of whom are women -- with three types of loans: (1) agricultural loans, (2) educational loans, and (3) microenterprise loans.
Kiva lenders’ funds will enable MicroGraam to forge new partnerships with important social organizations, connecting more rural areas with critical access to capital.
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!