Narendra is a hard-working man of Jhansi who needs a loan to set up his electric repair shop. He will be able to improve his livelihood by repairing damaged electrical appliances and selling them again. Narendra is determined to succeed and has a long work experience in electrical work. A loan will help him expand his electrical repair business to meet the demands of his customers. He will also be able to provide a better living environment for his wife and children.
Narendra is a service entrepreneur who works 7 hours a day for 7 days a week. With this loan Narendra will potentially obtain employment for 318 days.
The interest rate charged is split into returns for the social investor, fees for the impact partner and platform charges. Narendra Rajpoot 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
Repair works
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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