Lenchonghoi (B) Group
Initially, she did not have any source of income to manage the family. The only source to sustain the family was her father’s pension. She used the money to manage the family and for her younger brother’s education. To generate more income she engaged herself in doing quarry work near the river bank and earned daily wages. Unfortunately, the hard manual work took its toll on her health and she was forced to stop physical work on the doctor’s advice.
As she wanted to start her own income-generating business and needed financial assistant, she inquired among a few of her friends who are members of Kiva and they informed her that a loan could be accessed from WSDS, a partner with Kiva. She was delighted to know that there are generous people who could help her. With the first Kiva loan, she set up a small variety store near her house and in second and third loans she expanded and filled in more expensive items like sugar, rice, lentils etc in the store. Now, her store also deals in selling mobile recharge cards, too.
The ideas of saving money enthused her and she started saving some amount daily. Thus the money she saved was used in repaying the loan amount, bought two calves, a refrigerator and a computer.
Lhingkhoneng is very happy that she could help in maintaining the family in some ways and in repaying the loan without any default or even much difficulty. She said, “I am so happy and satisfied with WSDS/Kiva as it helped me in changing my life and my family's. Previously I had to do manual labor for income-generating but now, I am settled in my business. I will try to access loans in future as well and try to help others in changing their lives as much as I can.”
Like her the rest of the group members are engaged in ginger farming and variety stores.
More information about this loan
This loan is part of WSDS's effort to reach some of the most underserved parts of India's troubled northeast region, where there is very poor penetration of both formal and informal financial services. By supporting this loan, you are enabling access to finance for women living in some of India's 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 >
WSDS-Initiate is an inclusive nonprofit that works with women across all tribes and minority communities in Manipur, located in the remote northeast region of India. Most organizations concentrate their work in the plains region of Manipur, but WSDS is among the very few organizations serving women in the isolated hills. Political unrest and frequent economic blockades in the area make it very difficult to provide services, resulting in Manipur having the lowest penetration of financial services in the country.
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!