Amit Kumar is the sole breadwinner of his family of four. He is a skilled master tailor who runs an apparel store in the district of Bahraich. He is well known in his community for understanding his customers' needs. Now he wishes to expand his collection of clothing materials, gowns for children, and suits for both men and women. Support his ambitious venture.
Amit is a retailpreneur who works 12 hours a day for 7 days a week. With this loan Amit will potentially obtain employment for 546 days.
The interest rate charged is split into returns for the social investor, fees for the impact partner and platform charges. Amit Kumar has consented to pay the interest as below:
Investee
pays
8.00% flat p.a.
14.40% APR
Social
Investor
3.20%
5.76% APR
Platform
charges
4.80%
8.64% APR
The following section provides a detailed view of the investee loan requirement.
Loan
amount
₹ 50,000
Loan
tenure
12 months
Moratorium
None
Repayment
mode
EMI
Investee
occupation
Apparel store
Established in
1995
With Rang De from
2021
Founded by
Dr.Ashok Khosla
Indian Micro Enterprises Development Foundation (IMEDF) is a social enterprise promoted by Development Alternatives Group with a vision to promote inclusive growth and inspire environmental sustainability through development of micro - enterprises.
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