Vijay Kumar is a retail store owner, and he runs a grocery store in Tikamgarh, Madhya Pradesh. He houses a variety of spices, herbs, and other products in his store, and he constantly maintains a stock of his merchandise. But, as his business grows, so does his need for more inventory. With this loan, Vijay will be able to purchase more inventory for his store, which in turn will lead to more sales, and subsequently a boost in profits.
Vijay is a retailpreneur who works 8 hours a day for 7 days a week. With this loan Vijay 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. Vijay Kumar 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
₹ 20,000
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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