Veeran Pal is a resident of Jhansi. He has been running a retail store for a year now to support his family of three. He wishes to now expand his business. He requires a loan to purchase furniture for refurbishing his store. The credit will also be used to restock his store. This will help in the increase of his monthly revenue and support his family better.
Veeran is a retailpreneur who works 8 hours a day for 7 days a week. With this loan Veeran 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. Veeran Pal 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
₹ 40,000
Loan
tenure
12 months
Moratorium
None
Repayment
mode
EMI
Investee
occupation
Retail store
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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