Sri Purusottam Group
Damayanti is the one standing in front with her hand raised in the photo. She is 25 years old and lives with her husband and two sons of 12 and 9 years old. Damayanti hails from a traditional cloth weaving community. She has been running a cloth weaving & selling business with her husband. Presently, she has two hand looms for weaving saris. Her husband purchases the yarn/thread from a trader 20 km away from her village. They knit 80 to 100 pieces from a bundle of yarn, which costs around 10,000-15,000 rupees. She only produces saris because of the demand in the market. Damayanti makes two pieces of sari per day. Apart from this, she also purchases ready made garments from the local market. Her husband goes to weekly markets to sell the clothes. From this business, she earns a monthly income of Rs 7,000, which is not sufficient to make her future dream materialize. With the present loan of 48,000 INR, she wants to buy bulk quantities of thread/yarn and ready-made garments to increase her income. Purchasing in bulk will help her to reduce the purchasing & transportation costs of the raw materials. Damayanti wishes to grow her business and save enough to construct a good house.
The other four members of the group are Pramila, Basanti, and Hema who are doing a cloth business and Padmabati, who is running a general store.
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!