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Charaka Women Multipurpose

Cooperative Society

Creative Entrepreneur

Shimoga, Karnataka

351 livelihood days

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Charaka Women Multipurpose

Cooperative Society

#golocal#innovative
Invest in Charaka a groundbreaking women-run co-operative

Creative Entrepreneur

Shimoga, Karnataka

351 potential days of livelihood

5,00,000 loan is fully repaid

5,00,000 loan is fully repaid


About Charaka Women Multipurpose

Charaka is a women's co-operative society situated at Bhimanakone Village on the Western Ghats of southern India. It produces beautiful, handcrafted, naturally dyed cotton handloom garments that are sold in Bangalore, Mysore, Dharwad and Shimoga under the brand name DESI. In September, we raised Rs.5,00,000 as a first round of working capital for Charaka, which was utilised completely to purchase yarn. This second loan will be utilised as working capital, to purchase the ingredients required to naturally dye the garments, and to make payments to staff. Charaka is growing at a phenomenal rate of 25 percent per year and is sustained through its own profits. What’s unique about Charaka is its focused attention on cost-effective production. Some of its natural products have become as inexpensive as chemically dyed ones.

Interest Rate

The interest rate charged is split into returns for the social investor, fees for the impact partner and platform charges.

Investee
pays

4.00% flat p.a.

7.20% APR

Social
Investor

3.00%

5.40% APR

Impact
Partner

up to 0.00%

0.00% APR

Platform
charges

1.00%

1.80% APR

Loan Details

The following section provides a detailed view of the investee loan requirement.

Loan
amount

5,00,000

Loan
tenure

12 months

Moratorium

None

Repayment
mode

EMI

Investee
occupation

Handicrafts

Investee Credit Rating:
Excellent

The credit rating of the investee is arrived at by using a proprietary algorithm that factors in the investee’s credit score and the performance rating of the Impact Partner.

Co-curated and referred by our Impact Partner

Charaka Women's Multipurpose Industrial Co-Operative Society Ltd
   
Partner logo

Established in

1994

With Rang De from

2019

Founded by

Shri. Prasanna

The idea was incepted in 1994, to provide an alternative to the dependency on agriculture, which was causing caused immense damage to the eco-system. A weaving center was set up to demonstrate that handloom weaving could be viable and profitable in the region. Charaka was started with 30 women workers, and this number has grown to 800. The women plan their own production schedules and consequently there is a high sense of ownership amongst the cooperative's members. The women are their own paymasters. They draw a decent living wage, give themselves a small bonus every year, eat subsidised food, have health insurance and take home loans.

whatsapp_icon

3

3000

3

Total: ₹3000

FUNDS

INDIVIDUALS