Umesh's is one of the fast-growing saloons. Business is growing rapidly and the potential for growth is enormous. He is looking forward to this loan to expand his business by adding some more services and is ready to work hard to repay the loan. This facility will improve his family's standard of living and will create employment for other people in his village. It is also a stepping stone for him to become a successful businessman in near future.
Umesh is a beautypreneur who works 8 hours a day for 7 days a week. With this loan Umesh will potentially obtain employment for 364 days.
The interest rate charged is split into returns for the social investor, fees for the impact partner and platform charges. Umesh Sen has consented to pay the interest as below:
Investee
pays
8.00% flat p.a.
14.40% APR
Social
Investor
3.20%
5.76% APR
Platform
charges
4.80%
8.64% APR
The following section provides a detailed view of the investee loan requirement.
Loan
amount
₹ 50,000
Loan
tenure
12 months
Moratorium
None
Repayment
mode
EMI
Investee
occupation
Beauty parlour
Established in
1995
With Rang De from
2021
Founded by
Dr.Ashok Khosla
Indian Micro Enterprises Development Foundation (IMEDF) is a social enterprise promoted by Development Alternatives Group with a vision to promote inclusive growth and inspire environmental sustainability through development of micro - enterprises.
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