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Charaka Women Cooperative Society

#golocal#innovative
Invest in Charaka a groundbreaking women-run co-operative

Creative Entrepreneur

Shimoga, Karnataka

₹ 5,00,000 Loan is fully repaid

351 potential days of livelihood i

Charaka is a women's co-operative society situated at Bhimanakone Village on the Western Ghats of southern India. It produces beautiful, handcrafted, naturally dyed cotton handloom garments that are sold in Bangalore, Mysore, Dharwad and Shimoga under the brand name DESI. In September, we raised Rs.5,00,000 as a first round of working capital for Charaka, which was utilised completely to purchase yarn. This second loan will be utilised as working capital, to purchase the ingredients required to naturally dye the garments, and to make payments to staff. Charaka is growing at a phenomenal rate of 25 percent per year and is sustained through its own profits. What’s unique about Charaka is its focused attention on cost-effective production. Some of its natural products have become as inexpensive as chemically dyed ones.

We want to set up a wholesale market for pure handloom and for naturally dyed fabric.
The interest rate charged is split into returns for the social investor, fees for the impact partner and platform charges.

Investee
pays i

4.0% flat p.a.

7.2% APR

Social
Investor i

3.0%

5.4% APR

Impact
Partner i

up to 0.0%

0.0% APR

Platform
charges i

1.0%

1.8% APR

The following section provides a detailed view of the investee loan requirement.

Loan
amount

₹ 5,00,000

Loan
tenure

12 months

Moratorium

None

Repayment
mode

EMI i

Investee
occupation

Handicrafts

i :

B

Rang De Credit Rating A B C
What it means Low Risk Medium Risk High Risk

The rating is derived from the following data points.

Credit
bureau
score i

 

A

Rang De confidence score

 i


B

Partner
Rating i

B

Loan
Profile i

B

Financial
Profile i

A

Know more
CHARAKA WOMEN'S MULTIPURPOSE INDUSTRIAL CO-OPERATIVE SOCIETY LTD

Established in

1994

With Rang De from

2019

Founded by

Shri. Prasanna

The idea was incepted in 1994, to provide an alternative to the dependency on agriculture, which was causing caused immense damage to the eco-system. A weaving center was set up to demonstrate that handloom weaving could be viable and profitable in the region. Charaka was started with 30 women workers, and this number has grown to 800. The women plan their own production schedules and consequently there is a high sense of ownership amongst the cooperative's members. The women are their own paymasters. They draw a decent living wage, give themselves a small bonus every year, eat subsidised food, have health insurance and take home loans.

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