If you ever happen to hop around Rudraprayag, you shouldn’t miss out on Vir Singh’s food stall. The humble father of two is famous for whipping up the most delicious treats, the kind that will have you craving more. Vir sees opportunities to expand, and is hoping that with the aid of the Rang De loan, he will be able to refurbish his food stall, and diversify his menu with more food items. Contribute to see Vir become Rudraprayag’s most sought after chef.
Vir is a food entrepreneur who works 6 hours a day for 7 days a week. With this loan Vir 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. Vir Singh has consented to pay the interest as below:
Investee
pays
10.00% flat p.a.
18.00% APR
Social
Investor
5.00%
9.00% APR
Platform
charges
5.00%
9.00% APR
The following section provides a detailed view of the investee loan requirement.
Loan
amount
₹ 25,000
Loan
tenure
18 months
Moratorium
None
Repayment
mode
EMI
Investee
occupation
Food stall
UMM is an apex federation of women SHGs established in 2005, registered under Uttrakhand self-reliant cooperative act 2003, to meet the financial service needs of the poor living in one of the most underserved areas of Uttrakhand. UMM's mandate has been to focus on solutions that provide direct socio economic improvement to the marginalized and low-income households. AT India and UMM work in a predominantly rural, hill-based economy. There are limited avenues to credit access and lack of sustainable livelihood sources in these regions.
The difficult terrain and extreme weather of Uttarakhand makes it an arduous task for the people of the state to access financial services. The partnership between Rang De and UMM works towards bridging this gap.
Rs 43,90,000
Disbursed
127
Investees
98.0%
Repayments
We have partnered with Rang De to ensure financial inclusion to the most excluded communities of Uttarakhand.
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