Nirmal lives with a family of four. He owns a business in Bageshwar, Uttarakhand. He owns a computer services centre, where he helps villages with technical services. He is looking to expanding the business. Expanding the business would mean a higher income for the family. He wishes to use this credit to buy new systems and furnishing his shop. This credit would help in making his dreams come true.
Nirmal is a retailpreneur who works 10 hours a day for 7 days a week. With this loan Nirmal will potentially obtain employment for 455 days.
The interest rate charged is split into returns for the social investor, fees for the impact partner and platform charges. Nirmal Giri Goswami has consented to pay the interest as below:
Investee
pays
10.00% flat p.a.
18.00% APR
Social
Investor
4.00%
7.20% APR
Platform
charges
6.00%
10.80% APR
The following section provides a detailed view of the investee loan requirement.
Loan
amount
₹ 75,000
Loan
tenure
24 months
Moratorium
None
Repayment
mode
EMI
Investee
occupation
Retail store
Established in
2017
With Rang De from
2020
Founded by
Pankaj Wadhwa
Udhyam Entrepreneurs' rural entrepreneurship program was conceived by the people working in Uttarakhand to encourage entrepreneurial development in rural communities of the Kumaon region of Uttarakhand. The idea behind the “Changemakers” program is to create entrepreneurs who create jobs and opportunities through mentoring and providing credit. As change agents, they facilitate this idea by being the drivers of change, further in their communities by creating a buzz about entrepreneurship and role models in the community.
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