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Mekala

Srinivas

logoService Entrepreneur

logo Medak, Telangana

logo 50,000 has been disbursed

logo 468 livelihood days Number of days of productive livelihood activity that this loan will potentially facilitate

b-img b-img

Mekala

Srinivas

#go-getter#achiever
Support Srinivas to convert his auto-rickshaw to electric type.

logoService Entrepreneur

logo Medak, Telangana

logo 50,000 has been disbursed

logo 468 potential days of livelihood Number of days of productive livelihood activity that this loan will potentially facilitate

37,499.75 is
the current outstanding balance

100 0 0 12500 0 0

100%

0%

0%


Mekala Srinivas has been into transport services for the past six years. Over the years, he has learned a great deal about the possibilities of electric vehicles. He has decided to purchase a battery-operated rickshaw. He will use the loan amount to convert his existing diesel auto-rickshaw to an electric type with the help of an electric retrofit kit. With this, he will reduce his fuel bill and running costs for the vehicle substantially. It will also help in reducing the carbon footprint. Support Srinivas as he hopes to run his transport services successfully with the new change.

I wish to purchase more auto-rickshaws and employ people.

About Mekala Srinivas's livelihood

Mekala is a service entrepreneur who works 12 hours a day for 6 days a week. With this loan Mekala will potentially obtain employment for 468 days.

The interest rate charged is split into returns for the social investor, fees for the impact partner and platform charges.

Investee
pays The rate of interest charged to the investee

8.00% flat p.a.

14.40% APR

Social
Investor The rate of return an investor makes

8.00%

14.40% APR

Impact
Partner The rate of return an impact partner makes

up to 0.00%

0.00% APR

Platform
charges The charges, the platform incurs by offering it's services

0.00%

0.00% APR

The following section provides a detailed view of the investee loan requirement.

Loan
amount

50,000

Loan
tenure

12 months

Moratorium

None

Repayment
mode

EMI Equated Monthly Instalment

Investee
occupation

Transport services

The credit rating of the investee is arrived at by using a proprietary algorithm that factors in the investee’s credit score and the performance rating of the Impact Partner.

Racenergy
   

Established in

2018

With Rang De from

2022

Founded by

Arun Sreyas Reddy, Gautham Maheswaran

RACEnergy works with the auto rickshaw driver community to help improve their earnings and quality of life. It does this by helping them transition from diesel auto to electric auto by means of retrofitting their existing vehicles at low cost. RACEnergy primarily builds technology for furthering sustainable mobility in the country.

whatsapp_icon

3

3000

3

Total: ₹3000

Your Investees

Total Lives Impacted

0

Days of Livelihood

0