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Shivanna

Service Entrepreneur

MANDYA, Karnataka

50,000 has been disbursed

Borrower Image

Shivanna

#tireless#humble
Support Shivanna break free from the ties of a moneylender loan

Service Entrepreneur

Karnataka

50,000 has been disbursed

₹ 36,829.35 is
the current outstanding balance
26.34 0 0 73.66 13171 0 0 36829

26%

0%

0%

74%

About Shivanna

Shivanna is a mason based in Mandya district, near Mysore, Karnataka. He has been working in the construction line for over three decades now, supporting his family of four. A couple of years ago, he took a loan from a local moneylender to meet medical expenses for his ailing father. With the high-interest rate charged on this loan, he has been struggling to repay it completely. He is now seeking a loan from Rang De to pay off his debt from the moneylender and take this heavy burden off his shoulders. With a monthly income of Rs.15,000, he is looking forward to paying this loan back without the stress of high interest and harassment, and finally closing his debt and focussing on progress for his family. Invest in Shivanna to put him on a much-deserved path of progress.

Interest Rate

The interest rate charged is split into returns for the social investor and charges incurred by the platform.

Investee
pays

4.00% flat p.a.

7.20% APR

Social
Investor

3.00%

5.40% APR

Platform
charges

1.00%

1.80% APR

Loan Details

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

Loan
amount

₹ 50,000

Loan
tenure

18 months

Moratorium

3 months

Repayment
mode

EMI

Investee
occupation

Construction

Investee Credit Rating:
Good

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

Referred by suresh subbarao
About me

My name is Suresh Subbarao and I am one of the co-founders of Gramonnati. I worked with Cisco Systems for close to 20 years both in India and the US. I retired a couple of years back and started Gramonnati with a couple of colleagues from Cisco. Gramonnati has a vision of transforming India’s villages into vibrant and sustainable communities and reducing the urban-rural chasm. The first step is to transform village youth into job and opportunity creators rather than job seekers. If migration from rural to urban areas is to be slowed, it is imperative that we create entrepreneurs locally within rural communities. I am very interested in social entrepreneurship, sustainability, and organic agriculture.

Why I am referring Shivanna

I’ve known Shivanna for several years. He had to take a loan to meet medical expenses for his father a couple of years ago and is still struggling to repay this debt. What’s worse is that he is being harassed by the money lenders who he has borrowed from. I want to help him overcome this debt trap, and be free to make progress. Also, I want to introduce him to the formal financial system and give him access to a formal loan. I hope this helps him build his credit score and enables him to access credit from Rang De and other formal financial institutions for any needs in the future.

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3

₹ 3000

Proceed to Pay

3

Total: ₹3000

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