Parmanand is a hardworking breadwinner who has been running a welding business for more than fifteen years now. His wife supports him in his business. With a family of five to feed, Parmanand has plans of expanding his business further and increase his monthly income. With a loan, he hopes to buy tools, purchase equipment and revamp his store. This advancement to his business will help him increase his income and support his family better.
Parmanand is a service entrepreneur who works 8 hours a day for 7 days a week. With this loan Parmanand will potentially obtain employment for 364 days.
The interest rate charged is split into returns for the social investor, fees for the impact partner and platform charges. Parmanand Jha 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
₹ 50,000
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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