Binod is a very talented young man who is determined to become self-reliant through farming. He is well aware of the need for a good harvest every year; years of experience have sharpened Binod's agriculture skills and he is now eager to expand his business. This loan will help him buy seeds and fence his farm for the next new sowing season. The loan will also help him save money, adding to the profits made by his farm and generating a bigger income in the long run.
Binod is an agripreneur who works 6 hours a day for 7 days a week. With this loan Binod will potentially obtain employment for 273 days.
The interest rate charged is split into returns for the social investor, fees for the impact partner and platform charges. Binod Kushwahaha 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
₹ 30,000
Loan
tenure
12 months
Moratorium
None
Repayment
mode
EMI
Investee
occupation
Farming
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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