Chinge Konyak lives in the district of Mon in the state of Nagaland. He is self made man and involved in the practice of animal husbandry for the past 4 years. Chinge Konyak is looking to expand his business. He is looking to raise a loan to invest in his bio-flock model, which he believes will improve his household incomes through biofloc intervention. Invest in Chinge as he establishes his bio-flock model, purchase fish food, and construct a fish feed storage unit.
Chinge is an agripreneur who works 8 hours a day for 6 days a week. With this loan Chinge will potentially obtain employment for 312 days.
The interest rate charged is split into returns for the social investor, fees for the impact partner and platform charges. Chinge Konyak has consented to pay the interest as below:
Investee
pays
8.00% flat p.a.
14.40% APR
Social
Investor
8.00%
14.40% APR
Platform
charges
0.00%
0.00% APR
The following section provides a detailed view of the investee loan requirement.
Loan
amount
₹ 1,00,000
Loan
tenure
5 months
Moratorium
None
Repayment
mode
Flexible repayments
Investee
occupation
Animal husbandry
Established in
2021
With Rang De from
2022
Founded by
Col. Vijay Bhaskar and Sudeshna Mukherjee
Mithun Rural Development Foundation (MRDF), a Section 8 Company works in India and Myanmar on installing mini grid based clean energy ecosystems and using that clean access platform to engage with local communities to grow green micro-enterprises and scale Productive Uses of Energy (PUE) to impact rural lives and livelihoods in a sustainable manner. With a Vision of Economic Development of rural North East India through the platform of distributed renewable energy based solar mini-grids, MRDF aims to reach 1000 villages of North East India over the next ten years. Since March 2022, MRDF has converted, mentored and incubated over 71 micro-enterprises in the three mini grid villages of Chenwetnyu, Longkei and Totokchingha, all powered by the mini-grids of MRDF. Rang De's credit intervention will help MRDF to scale up their efforts and enhance the scope of livelihoods to include handicrafts, eco-tourism, bio-floc based home fisheries etc. and in turn realise their vision and mission
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