Saroj lives with a family of four. She owns an apparels business in Alwar, Rajasthan. She is looking to expanding her business. Expanding the business would mean a higher income for the family. She will use this loan amount to invest in purchasing women and children's garments and growing her inventory. This will help her expand her customer-base. This credit will take her one step closer to her dreams.
Saroj is a service entrepreneur who works 10 hours a day for 7 days a week. With this loan Saroj will potentially obtain employment for 455 days.
The interest rate charged is split into returns for the social investor, fees for the impact partner and platform charges. Saroj Devi has consented to pay the interest as below:
Investee
pays
6.00% flat p.a.
10.80% APR
Social
Investor
2.00%
3.60% APR
Platform
charges
4.00%
7.20% APR
The following section provides a detailed view of the investee loan requirement.
Loan
amount
₹ 60,000
Loan
tenure
24 months
Moratorium
None
Repayment
mode
EMI
Investee
occupation
Others
Established in
1997
With Rang De from
2020
Founded by
Rajesh Singhi
Ibtada, meaning ‘the beginning’, is a not for profit organisation that was started in 1997 to uplift women and girls in the Alwar district of Rajasthan. Rural poverty and deprivation are a major issue grappling the region, and Ibtada has introduced interventions in the space of Education, Financial Inclusion, Livelihood Generation, and Awareness about Rights and Entitlements. Although Ibtada is hand holding women through the process, the ultimate aim is to make them independent and empowered to stand up for themselves. Ibtada has reached over 50,000 households in 400+ villages in Alwar District, Rajasthan.
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