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Maa Saraswati Group
In this Group: Ranjita, Gitanjali, Sashimukhi, Gayatri, Sabita, Jamadei, Sanchala, Benimadhabi, Kakari, Pramila, Jhalamedei, Kanti
In the year 2014, twelve active women from Nilji village of Nuapada district in Odisha, India formed a group named Maa Saraswati to access loans from Mahashakti Foundation and expand their businesses. Nilji village is a remotely located rural village situated about 100 kilometers away from the district headquarters. Ranjita is one of them. The 32-year-old cheerful lady sitting with raised hand in the photo is Ranjita. She lives with her husband, one son of nine years and one daughter of fourteen years. Her daughter is studying in 10th standard in the local government school and her son is studying in 4th standard in a private school located in the village.

Ranjita is running a general grocery shop in her village for the last ten years with the help of her husband. She started the business with a very small investment of her own on limited items, i.e. potatoes, sugar, tea leaves, soap, shampoo, biscuits, etc. At that time her monthly net income was around 2,000 INR. With this small income it was very difficult on her part to maintain the family. Using small savings she gradually expanded her business and now she is earning a monthly income of 8,000 INR. With this income, Ranjita is managing her family expenses as best she can, but facing financial trouble for the educational expenses of her children.

With the intervention of Mahashakti Foundation, Ranjita saw a ray of hope.Her group approached Mahashakti Foundation and availed a group loan of 192000 INR. Out of this amount Ranjita took a loan of 16,000 INR. With a part of this loan she is planning to pay the admission fees of her son and daughter and with the other part wants to purchase items like rice, wheat, lentils, oil, soap, potatoes, etc. for her general store. This loan gave a solace to Ranjita as she has been able to arrange the money for the continued study of her children. Ranjita hopes to save enough for the better education of her children and purchase a new bike for her husband.

The other eleven members of the group are managing a general store business, a fabrication center, a betel shop, a tailoring center, milk selling, vegetable vending, a Tiffin (tea) stall, an egg center, etc.

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

  • $4,000
    Average annual income
  • 123
    View loans »
    India Loans Fundraising
  • $5,421,200
    Funds lent in using Kiva
  • 59.7
    India Rupees (INR) = $1 USD
Paying Back

This loan has been fully funded!

A portion of Maa Saraswati Group's $3,225 loan helped a member to pay the primary school admission fees of her son, secondary school admission fees of her daughter and purchase items for her general store.
0% repaid
Repayment Term
43 months (Additional Information)
Repayment Schedule
At end of term
May 12, 2014
Jun 20, 2014
Currency Exchange Loss: