Lakku needs to begin sowing for the new season. He is from Kurnool, Andhra Pradesh, and lives with a family of four. The disruption due to the COVID-19 crisis has made it difficult for Lakku to procure essential supplies. He is falling short of options and time is ticking. With the help of this loan, he will be able to buy all the essentials required and begin the season on time. This will help him to have a successful harvest and fulfilling the needs of his family.
Lakku is an agripreneur who works 8 hours a day for 6 days a week. With this loan Lakku 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. Lakku Mutyalu has consented to pay the interest as below:
Investee
pays
5.00% flat p.a.
9.00% APR
Social
Investor
2.00%
3.60% APR
Platform
charges
3.00%
5.40% APR
The following section provides a detailed view of the investee loan requirement.
Loan
amount
₹ 10,000
Loan
tenure
8 months
Moratorium
None
Repayment
mode
Flexible repayments
Investee
occupation
Farming
Established in
2002
With Rang De from
2020
Founded by
Raghunathan Narayanan
Vrutti is a centre for sustainable livelihoods enhancing people’s well-being through knowledge, innovation and transformative actions. They work through an ecosystem approach integrating and delivering services that empower small producers and marginalized grow their way out of poverty and uncertainty and to be 3 times more profitable.
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