Vinod Kumar comes from a farming family in Bahraich, in the state of Uttar Pradesh. He has been farming for the past four years. He is pursuing agriculture as a career, and farming is, by far, his biggest source of income. Now, he wishes to cultivate his land in the new season and needs assistance to purchase seeds, manure, poly houses, agriculture tools, and irrigation equipment. Invest in Vinod as he cultivates his farmland to ensure a successful crop.
Vinod is an agripreneur who works 7 hours a day for 6 days a week. With this loan Vinod will potentially obtain employment for 273 days.
The interest rate charged is split into returns for the social investor, fees for the impact partner and platform charges. Vinod 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
₹ 40,000
Loan
tenure
12 months
Moratorium
None
Repayment
mode
EMI
Investee
occupation
Farming
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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