Savita needs to begin sowing for the Rabi season. She is from Pali, Rajasthan and lives with a family of three. The recent disruption due to the COVID-19 crisis has made it difficult for Savita to procure essential supplies. She is falling short of options and time is ticking. With the help of this loan, she will be able to buy all the essentials required and begin the season on time. This will help her to have a successful harvest and fulfilling the needs of her family.
Savita is an agripreneur who works 5 hours a day for 6 days a week. With this loan Savita will potentially obtain employment for 195 days.
The interest rate charged is split into returns for the social investor, fees for the impact partner and platform charges. Savita Devi has consented to pay the interest as below:
Investee
pays
0.00% flat p.a.
0.00% APR
Social
Investor
0.00%
0.00% APR
Platform
charges
0.00%
0.00% APR
The following section provides a detailed view of the investee loan requirement.
Loan
amount
₹ 20,000
Loan
tenure
12 months
Moratorium
None
Repayment
mode
EMI
Investee
occupation
Farming
Established in
2015
With Rang De from
2020
Founded by
SAGI BAI
Registered under the societies registration act on 2nd February 2015, the federation comprises 4000 women. The federation works with the tribal communities of Rajasthan. The main source of income for the communities here is agriculture, stone-cutting and daily wage labour. With a strong presence of moneylenders charging exorbitant rates of interest, these communities have no other choice but to borrow at these rates to keep their business going. Ghoomar has been working tirelessly with these communities to help them build their livelihoods in a more sustainable manner by providing them with access to low cost credit and supporting their livelihood activities.
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