Popat lives in Ahmednagar, Maharashtra with his family of four. He is a fruit vendor and that is the only source of sustenance of his family. He wishes to a provide a roof for his family and is almost nearing the end of the construction of a house of their own. He needs credit to meet the expenses of last minute construction related expenses. This loan would help him fill colors in the walls of his house. Invest in Popat as he works hard to provide a roof to his family.
The interest rate charged is split into returns for the social investor, fees for the impact partner and platform charges. Popat Ambadas Ghadge has consented to pay the interest as below:
Investee
pays
5.50% flat p.a.
9.90% APR
Social
Investor
2.00%
3.60% APR
Impact
Partner
up to 2.00%
3.60% APR
Platform
charges
1.50%
2.70% APR
The following section provides a detailed view of the investee loan requirement.
Loan
amount
₹ 90,000
Loan
tenure
36 months
Moratorium
None
Repayment
mode
EMI
Investee
occupation
Food stall
Snehalaya works towards developing awareness and capabilities of individuals who have been deprived of their fundamental rights, as a result of the inequalities that exist in our society. The agency provides rescue, rights and rehabilitative services to the communities in most need. They are now working with Curry Stone Design Collaborative and Hunnarshala Foundation on a redevelopment program for the slums of Sanjaynagar in Ahmednagar.
This partnership will enable 298 families of Sanjaynagar in Ahmednagar to become proud owners of their dream homes.
Rs 25,40,000
Disbursed
27
Investees
96.0%
Repayments
At a time when most banks and micro-finance institutions turned the residents of Sanjaynagar away, our partnership with Rang De has enabled us to introduce our community members to formal sources of credit for the first time.
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