Sombari is a farmer in Mayurbhanj. She has been farming for more than 9 years and has been dependent on monsoon rain for cultivation. She needs a loan to invest in a drip irrigation system for her farmland during the monsoon that will help her improve her produce and income.
Sombari is an agripreneur who works 5 hours a day for 6 days a week. With this loan Sombari will potentially obtain employment for 195 days.
The interest rate charged is split into returns for the social investor, fees for the impact partner and platform charges. Sombari Naik has consented to pay the interest as below:
Investee
pays
3.00% flat p.a.
5.40% APR
Social
Investor
2.00%
3.60% APR
Platform
charges
1.00%
1.80% APR
The following section provides a detailed view of the investee loan requirement.
Loan
amount
₹ 8,000
Loan
tenure
15 months
Moratorium
3 months
Repayment
mode
EMI
Investee
occupation
Farming
Established in
2007
With Rang De from
2021
Founded by
TODO
Collectives for Integrated Livelihood Initiatives(CInI), Janshedpur,, established on May 17,2007 is a nodal agency of tata trusts, anchoring the Central India Initiatives. CInI aims to transform the lives of tribal households in the Central India tribal belts, through building knowledge & scaling up programs in thematic area of agriculture productivity stabilization, forest based livelihoods, water resources development, drinking water & sanitization, microfinance & strengthening community based organisation. CInI work on Lakhpati Kisan Initiatives: creating 'Lakhpati Kisan' & building 'Smart Villages'
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