Choki is a hard-working woman who cultivates a piece of land for a living. In spite of the constant struggle in their life, Choki has been doing her best to move forward on her own. However, the lack of proper field leveling makes it difficult for her to prevent soil erosion and retain moisture in the soil. This loan will help Choki to level the field and deepen the well for adequate water supply. Enabling Choki and her family to produce a bountiful harvest.
Choki is an agripreneur who works 5 hours a day for 5 days a week. With this loan Choki will potentially obtain employment for 162 days.
The interest rate charged is split into returns for the social investor, fees for the impact partner and platform charges. Choki Bai has consented to pay the interest as below:
Investee
pays
10.00% flat p.a.
18.00% APR
Social
Investor
4.00%
7.20% APR
Platform
charges
6.00%
10.80% APR
The following section provides a detailed view of the investee loan requirement.
Loan
amount
₹ 1,00,000
Loan
tenure
15 months
Moratorium
None
Repayment
mode
EMI
Investee
occupation
Farming
Established in
2015
With Rang De from
2020
Founded by
SAGI BAI
Registered under the societies registration act on 2nd February 2015, the federation comprises 4000 women. The federation works with the tribal communities of Rajasthan. The main source of income for the communities here is agriculture, stone-cutting and daily wage labour. With a strong presence of moneylenders charging exorbitant rates of interest, these communities have no other choice but to borrow at these rates to keep their business going. Ghoomar has been working tirelessly with these communities to help them build their livelihoods in a more sustainable manner by providing them with access to low cost credit and supporting their livelihood activities.
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