From the first loan of INR 5000 from WSDS, she bought two piglets for rearing and thread for weaving. She managed to repay her loan by selling the finished traditional shawls and wrap-around skirts that she wove. She was also able to clear all her other family expenses like her children's school fees, medical expenses, etc. by selling the full grown pigs at the end of the year.
Now, she is requesting a KIVA loan of INR 10,000 so that she can buy two more piglets @ INR 2500 per piglet for breeding purposes, repairing and extending her pigsty, and utilise INR 2000 for purchasing thread for weaving.
The other group members have similar activities like Pi Nemneichong and among them two members have grocery shops in the village. Most of them have a ginger cum vegetable farm in the upland 'jhum' fields. They grow vegetables both for household consumption as well as for selling in the market. However, the cultivation of ginger is mainly for selling; it is harvested once a year, depending on market demand.
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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Success!! The loan was 100% repaid