Sri Jagannath Group
Ranjita, aged 38, lives with her husband, her son aged 16 and her daughter aged 9. They are attending college/school. Ranjita has been running a general store in the local market place for the last 25 years with the help of her husband. She sells general grocery items like rice, lentils, biscuits, soft drinks (sodas) and stationery such as books, pens, etc.
Ranjita was able to increase the variety of items at her general store with her previous loan and increase her cash flow. She has been able to manage her household expenses better and invest in house repairs. She says she was able to increase the variety of items in her shop but not the inventory level with her previous loan. She wants to buy increased stock of items like rice, wheat, lentils, oil, etc. for her general store. A portion of the loan will be utilized by her to increase her working capital. This will help her to reduce her buying and transportation costs as she will not have to replenish her stock frequently. And her husband will not have to travel frequently to get the stock.
During this year, Ranjita’s shop was displaced due to road expansion. She had to relocate her business to the other side of the road. She says that her previous lady customers are reluctant to cross the road and come to the shop to buy. Ranjita hopes to save enough build permanent premises that will shield her shop from sudden dislocations. Also, she wants it to be in a location close to her house and accessible to her customers, enabling her to divide her time conveniently between household work and running the shop.
The other three members of the group are Sabita, Gouri, and Janaki and are running a food stall, a betel nut shop, etc. Since the inception of Sri Jagannath group, Ranjita has been heading the group with dedication and sincerity. The other members of the group are also very happy under the leadership of Ranjita.
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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