Manda Shravan Adagale's loan is cancelled and investments shall be reverted.
Manda has been working as a domestic worker for the last 15 years. Having lost her husband at a young age, she has been single-handedly taking care of herself and her teenage son. She works long hours in the homes of others to make ends meet but is driven to give her son the life of his dreams. She wants to educate her son and help him secure a good job. She is very excited to soon own a beautiful and well-furnished home and is determined to work hard to pay off the debt.
The interest rate charged is split into returns for the social investor, fees for the impact partner and platform charges. Manda Shravan Adagale has consented to pay the interest as below:
Investee
pays
5.50% flat p.a.
9.90% APR
Social
Investor
2.00%
3.60% APR
Platform
charges
3.50%
6.30% APR
The following section provides a detailed view of the investee loan requirement.
Loan
amount
₹ 50,000
Loan
tenure
30 months
Moratorium
None
Repayment
mode
EMI
Investee
occupation
Domestic worker
Snehalaya works towards developing awareness and capabilities of individuals who have been deprived of their fundamental rights, as a result of the inequalities that exist in our society. The agency provides rescue, rights and rehabilitative services to the communities in most need. They are now working with Curry Stone Design Collaborative and Hunnarshala Foundation on a redevelopment program for the slums of Sanjaynagar in Ahmednagar.
This partnership will enable 298 families of Sanjaynagar in Ahmednagar to become proud owners of their dream homes.
Rs 25,40,000
Disbursed
27
Investees
88.0%
Repayments
At a time when most banks and micro-finance institutions turned the residents of Sanjaynagar away, our partnership with Rang De has enabled us to introduce our community members to formal sources of credit for the first time.
Share Manda Shravan's profile
Invite your family and friends to view Manda Shravan's profile on Rang De
