Virendra Kumar runs a clinic that offers medical and professional services to the people in his neighbourhood. After having worked for more than three years in his clinic, he wishes to meet all the current needs of his customers. To expand the business, he needs a loan to purchase medicines and a few racks to keep his medicines neatly. He also wishes to make his clients happy by renovating his clinic in the near future. Support Virendra Kumar to run his clinic successfully!
Virendra is a service entrepreneur who works 9 hours a day for 7 days a week. With this loan Virendra will potentially obtain employment for 409 days.
The interest rate charged is split into returns for the social investor, fees for the impact partner and platform charges. Virendra 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
₹ 50,000
Loan
tenure
12 months
Moratorium
None
Repayment
mode
EMI
Investee
occupation
Professional services
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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