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Dec 04, 2008, 02.22 PM IST
India's first peer to peer microlending site, RangDe.Org has been recently launched with a mission to make low cost microcredit a reality. RangDe.Org believes that affordable microcredit can help people get the much needed financial support to break the cycle of poverty.
India's first peer to peer microlending site, RangDe.Org has been recently launched with a mission to make low cost microcredit a reality. RangDe.Org believes that affordable microcredit can help people get the much needed financial support to break the cycle of poverty. One can become a social investor on RangDe.Org by investing Rs. 500. A Rang De Social Investor will get back this money at the end of the loan tenure and earn a return of 3.5% pa in addition to the social return of having made a sustainable difference.
According to Smita Ram, Co-founder & CEO, RangDe.Org," Microlending stimulates job creation, poverty alleviation and grass-root economic development. Even if 10 million people pledge to make a loan - (a loan and not a donation) of Rs. 500 every month, we can reach out to thousands of entrepreneurs in a sustainable manner. "
Through our peer to peer microlending platform RangDe.Org has managed to raise loans for 281 borrowers in three states and disbursed Rs. 17,89,000. For instance, Pushpa runs a petty shop in
Sourced From: Pi Communications
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