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Mekala

Srinivas

Service Entrepreneur

Medak, Telangana

468 livelihood days

Borrower Image 1 Borrower Image 2

Mekala

Srinivas

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

Service Entrepreneur

Telangana

468 potential days of livelihood

50,000 loan is fully repaid

50,000 loan is fully repaid


About Mekala

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.

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.

Interest Rate

The interest rate charged is split into returns for the social investor, fees for the impact partner and platform charges. Mekala Srinivas has consented to pay the interest as below:

Investee
pays

8.00% flat p.a.

14.40% APR

Social
Investor

8.00%

14.40% APR

Platform
charges

0.00%

0.00% APR

Loan Details

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

Investee
occupation

Transport services

Investee Credit Rating:
Good

Investee credit rating has been arrived at by our proprietary algorithm which factors in the following parameters: 1. Investee credit bureau scores 2. debt servicing ability

Co-curated and referred by our Impact Partner

Racenergy
   
Partner logo

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.

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3

3000

3

Total: ₹3000

FUNDS

INDIVIDUALS