A1102, Ajmera Green Acres, Bannerghatta Road, Bangalore, Karnataka, India, 560076
Email: smita@rangde.org, deepa@rangde.org
Website: www.rangde.org
Charity Bib Status: Sold out
Rang De is a pioneering web based social initiative that supports rural entrepreneurs with access to cost effective capital. Through an online portal, www.rangede.org, Rang De enables individuals to become social investors by lending small sums of money to entrepreneurs from low income households.
This unique fund-raising model and effective use of technology enables Rang De to reach out to underserved communities with access to cost effective credit. Rang De' s interest rates range from 5% flat p.a. to 10% flat p.a.
Fund Usage:
Rang De adopts a unique operational model. Its approach to microcredit is non-profit with a focus on sustainability.
Donations raised through the Marathon will be used for Advocacy and Social Audits. As we scale up our efforts to reach out to entrepreneurs from low income households, social audit mechanisms will need to be strengthened.
In addition to audits, the organisation will need to create awareness among potential social investors about microcredit and how it can help alleviate poverty. Advocacy through the medium of short films and social media will help in dispelling the myths about the working poor and microcredit.
Impact:
Meena has three sons and a daughter and giving them a good future is always on her mind. She and her husband Shafi have only one source of income. They sell vegetables from a push cart which they take from door to door. Meena plans to scale up her business and is looking for a loan to buy larger quantities of the vegetables.
Meena needed Rs.15000/- to expand her vegetable business. With Rs.7500 from Rang De, some more from the field partner and some of her own savings, she bought two hand carts for a total of Rs.9000 and used the balance to buy the vegetables. Now her sons can head off in two different directions to sell the vegetables and it has increased their income by Rs.100 a day.
(The case study reflects the work that we do at Rang De and is not representative of the funds raised via SCMM)
Page Url :
http://www.unitedwaymumbai.org/ngo77_rangde.htm
Cause category: Rural Development
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