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Saraswati Group
In this Group: Indra , Sasidei, Sasi, Kamala, Rukmani
The group named Saraswati (the name of a Hindu goddess of Education) consists of five active women entrepreneurs named Kamala, Indra, Sasidei, Sasi and Rukmani. They are from Duajhar village under Nuapada district in Odisha, India and started a new venture to contribute to their family income by forming a group in the year 2012. The featured member, Kamala, is sitting in the middle raising her hand in the photo. She is 42 years old and lives with her husband, one son age 16 and one daughter age 13. Kamala is a very energetic and hard working lady. She has been running a cloth weaving unit in her house for the last 25 years. Now she is managing her business successfully with three weaving units. In two units, she is weaving saris and in one unit gamchha (towels). Kamala has engaged three skilled laborers to help her with the weaving. They produce three saris and three towels per day. Kamala pays Rs 100/- per sari and Rs 50/- per towel as labor charges to the weavers. Her husband brings raw materials (yarn/thread per unit costs around 10,000/-) from a stockist in a nearby town on credit and gives the finished products to the same stockiest who does not give as much return to her compared to her efforts. Therefore, she is running at a continuous loss and facing a lot of trouble maintaining her family. So she is planning to use the entire loan to purchase more stock of raw materials like yarn. This will help her to eliminate some unnecessary expenses resulting from frequent movements to bring in raw materials. The role of Kamala in the business is to process the thread. Sometimes her daughter also helps her in this processing work. Kamala hopes to repair her house and wants to purchase some assets for the marriage of her daughter.

Indra, Sasidei, Rukmani and Sasi are the other four members. They are running a medicine store, a cloth business, a utensils business and atailoring business, respectively.

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
  • 88
    View loans »
    India Loans Fundraising
  • $6,748,700
    Funds lent in using Kiva
  • 55.4
    India Rupees (INR) = $1 USD