Maa Thakurani Group
She has been running a tea stall for the last eight years, with some snack items prepared by her along with her husband. From the above, her family gets a monthly income of 6,000 INR, with which it is very difficult to maintain her family.
She has already availed one loan from Mahashakti during last year. Now she wants another loan to purchase a gas stove and repair the roof of the tea stall for the expansion of her business. She has an ambition to provide a better education to her children for a bright future.
Other members of the group, Swarnaprabha, Gitadei, Partha and Banita, need loans for an automobile shop, a betel shop, a fish business and a chicken center respectively. All the members have established businesses, and it will be their second-cycle loan from Mahashakti Foundation.
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!