₹ 2,871 is
the current outstanding balance
81%
0%
0%
19%
Mohammad Iqbal is an auto-rickshaw driver. He lives with his family and is from Ahmedabad, Gujarat. He is the sole earner for his family and the lockdown has put him in a difficult situation as he has not been able to bring income daily. His auto-rickshaw has broken down and requires repair. With his savings having slowly depleted, he needs credit to get his auto repaired. Invest in Mohammad Iqbal as he overcomes these difficult times.
The interest rate charged is split into returns for the social investor and charges incurred by the platform.
Investee
pays
0.00% flat p.a.
0.00% APR
Social
Investor
0.00%
0.00% APR
Platform
charges
0.00%
0.00% APR
The following section provides a detailed view of the investee loan requirement.
Loan
amount
₹ 15,000
Loan
tenure
24 months
Moratorium
None
Repayment
mode
EMI
Investee
occupation
Others
I am Ajaz, a PhD student at Gujarat University. My work and research cover de-addiction. I am actively collaborating with different tiers of the Ahmedabad Police around this theme. During the lockdown, with other collaborators, I worked towards providing immediate relief with food, rations and now livelihoods to vulnerable populations around me.
I have known Mohammad Iqbal for several years. He is our family friend and I address him as my uncle. He drives an auto rickshaw to make a living. During this lockdown, it was tough for him to make an earning. He had no other choice than to tap into his savings until things got better. Unfortunately, his auto rickshaw had also broken down. Now, he needs credit to kickstart his auto, and his life again. I believe a little support can go a long way to help his family to get financially stable. With help of this loan, he will be able to repair his auto, while also building a credit score that will improve his prospects to seek an institutional loan in the future as well.
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