Mohanlal has a small embroidery unit in Tikamgarh, where he makes beautifully designed clothes for his community. To expand his unit further, he will use this credit to purchase clothes and other raw materials for his shop. This way he will be able to meet the demands of his customers and deliver the services on time. Mohanlal wants to improve his standard of living and lead a happy life with his family.
Mohanlal is a retailpreneur who works 8 hours a day for 6 days a week. With this loan Mohanlal will potentially obtain employment for 312 days.
The interest rate charged is split into returns for the social investor, fees for the impact partner and platform charges. Mohanlal Kushwaha has consented to pay the interest as below:
Investee
pays
8.00% flat p.a.
14.40% APR
Social
Investor
3.20%
5.76% APR
Platform
charges
4.80%
8.64% APR
The following section provides a detailed view of the investee loan requirement.
Loan
amount
₹ 30,000
Loan
tenure
12 months
Moratorium
None
Repayment
mode
EMI
Investee
occupation
Apparel store
Established in
1995
With Rang De from
2021
Founded by
Dr.Ashok Khosla
Indian Micro Enterprises Development Foundation (IMEDF) is a social enterprise promoted by Development Alternatives Group with a vision to promote inclusive growth and inspire environmental sustainability through development of micro - enterprises.
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