Tilottama, a lady of 23 years, lives here with her husband and one daughter of 3 years in a small mud house. She is third from right with her hand raised in the photograph. Her family belongs to the below poverty line category. Tilottama, with the help of her husband, has been running a general store in her house for the last 5 years, selling varieties of items like potatoes, oil, rice, dough, soap, sugar, tea, washing powder, lentils, biscuits, toffees, eggs, stationery items, and mobile recharge vouchers. Initially she started this business with a small investment of her own. She purchases stock for her business thrice a week from the wholesale sellers of the nearest town, which is 15 kms away. Due to a lack of sufficient money, she has to purchase items on a regular basis, which unnecessarily increases costs in both finance and labor. From her business, she earns a monthly income of 5,000 Indian rupees (INR), on which it is very hard for her to manage her family.
To expand her business for more income in the year 2014, Tilottama, along with other ten women of her village, formed a self help group named Jagadamba to receive a loan from the Mahashakti foundation. She wants to increase stock of products for her business from her portion of the loan in the amount of 14,000 INR by purchasing items like potato, lentils, soap, biscuits, spice items, etc. Tilottama hopes this will help her to increase her income for materializing her dreams of construction of a house, a toilet and better education of her daughter.
The other ten borrowers of the group are doing micro enterprises such as fast food centers, dry food and spices businesses, puffed rice selling, rice selling, daily needs shop, general store, bold gram fry and selling, etc.
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 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 >
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.
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This loan has been fully funded!