Farming for over twenty-five years, Mangi Devi has become the skilled and experienced farmer of her village in Pali, Rajasthan. She lives with her family of four and agriculture is the main source of income for them. With the new season around the corner, Mangi wishes to fence her land to ensure the security of her crops. She needs a low-interest loan for the same. This will help her have a profitable season and provide for her family better. Invest in Mangi now!
Mangi is an agripreneur who works 4 hours a day for 7 days a week. With this loan Mangi will potentially obtain employment for 182 days.
The interest rate charged is split into returns for the social investor, fees for the impact partner and platform charges. Mangi Devi 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
₹ 80,000
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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