Sudam Adagale's loan is cancelled and investments shall be reverted.
Sudam Adagale is a father to two daughters and a son. A resident of Ahmednagar, Maharashtra, Sudam makes a living by working as a domestic worker. He toils six days a week, working for nearly eight hours to support his family. Now after several years, Sudam wishes to give his family an independent house. He seeks credit to fund the construction of his new house so he can better the quality of life for his family. Invest in Sudam as he wins for his family.
The interest rate charged is split into returns for the social investor, fees for the impact partner and platform charges. Sudam Adagale has consented to pay the interest as below:
Investee
pays
5.50% flat p.a.
9.90% APR
Social
Investor
2.00%
3.60% APR
Platform
charges
3.50%
6.30% APR
The following section provides a detailed view of the investee loan requirement.
Loan
amount
₹ 1,00,000
Loan
tenure
36 months
Moratorium
None
Repayment
mode
EMI
Investee
occupation
Construction
Snehalaya works towards developing awareness and capabilities of individuals who have been deprived of their fundamental rights, as a result of the inequalities that exist in our society. The agency provides rescue, rights and rehabilitative services to the communities in most need. They are now working with Curry Stone Design Collaborative and Hunnarshala Foundation on a redevelopment program for the slums of Sanjaynagar in Ahmednagar.
This partnership will enable 298 families of Sanjaynagar in Ahmednagar to become proud owners of their dream homes.
Rs 25,40,000
Disbursed
27
Investees
88.0%
Repayments
At a time when most banks and micro-finance institutions turned the residents of Sanjaynagar away, our partnership with Rang De has enabled us to introduce our community members to formal sources of credit for the first time.
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