Shivdei Devi is a strong woman of purpose. She is a widower and has faced many challenges early in her life. Her son Mahesh works on the farms and toils hard to provide for the family. Shivdei now wants to support her son. With the loan amount, she plans to buy a mule and make revenue by using it to transport people in the difficult terrain of Rudraprayag. She also wishes to use it to heft stacks around the farm. Invest in her new business venture as she takes up a new challenge.
Shivdei is an agripreneur who works 7 hours a day for 7 days a week. With this loan Shivdei will potentially obtain employment for 318 days.
The interest rate charged is split into returns for the social investor, fees for the impact partner and platform charges. Shivdei Devi has consented to pay the interest as below:
Investee
pays
10.00% flat p.a.
18.00% APR
Social
Investor
4.00%
7.20% APR
Platform
charges
6.00%
10.80% APR
The following section provides a detailed view of the investee loan requirement.
Loan
amount
₹ 40,000
Loan
tenure
18 months
Moratorium
None
Repayment
mode
EMI
Investee
occupation
Animal husbandry
UMM is an apex federation of women SHGs established in 2005, registered under Uttrakhand self-reliant cooperative act 2003, to meet the financial service needs of the poor living in one of the most underserved areas of Uttrakhand. UMM's mandate has been to focus on solutions that provide direct socio economic improvement to the marginalized and low-income households. AT India and UMM work in a predominantly rural, hill-based economy. There are limited avenues to credit access and lack of sustainable livelihood sources in these regions.
The difficult terrain and extreme weather of Uttarakhand makes it an arduous task for the people of the state to access financial services. The partnership between Rang De and UMM works towards bridging this gap.
Rs 43,90,000
Disbursed
127
Investees
98.0%
Repayments
We have partnered with Rang De to ensure financial inclusion to the most excluded communities of Uttarakhand.
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