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Ramavath

Ravi Naik

Service Entrepreneur

Hyderabad, Telangana

455 livelihood days

Borrower Image 1 Borrower Image 2

Ramavath

Ravi Naik

#resilient#hustler
Support Ravi to afford an electric retrofit kit for his auto-rickshaw.

Service Entrepreneur

Telangana

455 potential days of livelihood

40,000 loan is fully repaid

40,000 loan is fully repaid


About Ramavath

Ravi Naik owns an auto rickshaw for his transport services in Hyderabad. He has been driving for the past eleven years. Though he enjoys the social standing and stability associated with his job, he wishes to expand his business to avoid financial struggles, which is why he is looking for a loan. He wishes to convert his diesel-fueled auto-rickshaw to an electric auto-rickshaw using an electric retrofit kit, which will enable him to reduce his fuel expenses, reduce pollution, operate his auto rickshaw during the nighttime hours, and attract more customers. This way he can save his income. Support him today!

About Ramavath Ravi Naik's livelihood

Ramavath is a service entrepreneur who works 10 hours a day for 7 days a week. With this loan Ramavath will potentially obtain employment for 455 days.

Interest Rate

The interest rate charged is split into returns for the social investor, fees for the impact partner and platform charges. Ramavath Ravi Naik has consented to pay the interest as below:

Investee
pays

8.00% flat p.a.

14.40% APR

Social
Investor

8.00%

14.40% APR

Platform
charges

0.00%

0.00% APR

Loan Details

The following section provides a detailed view of the investee loan requirement.

Loan
amount

40,000

Loan
tenure

12 months

Moratorium

None

Repayment
mode

EMI

Investee
occupation

Transport services

Investee Credit Rating:
Adequate

Investee credit rating has been arrived at by our proprietary algorithm which factors in the following parameters: 1. Investee credit bureau scores 2. debt servicing ability

Co-curated and referred by our Impact Partner

Racenergy
   
Partner logo

Established in

2018

With Rang De from

2022

Founded by

Arun Sreyas Reddy, Gautham Maheswaran

RACEnergy works with the auto rickshaw driver community to help improve their earnings and quality of life. It does this by helping them transition from diesel auto to electric auto by means of retrofitting their existing vehicles at low cost. RACEnergy primarily builds technology for furthering sustainable mobility in the country.

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3

3000

3

Total: ₹3000

FUNDS

INDIVIDUALS