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Syed

Jahangir

Service Entrepreneur

Rangareddy, Telangana

455 livelihood days

Borrower Image 1 Borrower Image 2

Syed

Jahangir

#go-getter#achiever
Support Syed to convert his auto-rickshaw to electric one.

Service Entrepreneur

Telangana

455 potential days of livelihood

27,500 loan is fully repaid

27,500 loan is fully repaid


About Syed

Syed Jahangir, who resides in Rangareddy in Telangana, has been involved in the transport services business for the past fifteen years. Syed has an outdated diesel engine auto rickshaw, and with the rising costs of fuel, he is looking to revamp the vehicle completely. He is looking to convert the diesel auto rickshaw to an electric auto rickshaw by using the electric retrofit kit. As a result, he will reduce the overheads and save on fuel costs, and at the same time, reduce the pollution caused by fuel. Invest in Syed as he tries to revamp his business with a sustainable solution and save on costs for both himself and the environment.

About Syed Jahangir's livelihood

Syed is a service entrepreneur who works 10 hours a day for 7 days a week. With this loan Syed 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. Syed Jahangir 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

27,500

Loan
tenure

12 months

Moratorium

None

Repayment
mode

EMI

Investee
occupation

Transport services

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

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