Savitaben is 45 years old woman. She runs home based tailoring business. She has customers from neighborhood localities. With this loan, she hopes to grow her business of tailoring by purchasing better sewing machine. Her old sewing machine does not works properly and often she needs to do the detailing work with hands. This is very time consuming and hence she wants to utilize the loan for purchasing a new sewing machine. This will enable her to fulfill orders on time and take new stitching orders as well. She is also looking forward to purchase bulk fabrics with the loan amount. With better sewing machine and dress material she plans to prepare readymade clothes like blouses etc. for selling. This additional service with tailoring would increase her profits. This plan not only enables her to retain her customers but also attract new customers.
Note: Government regulations in India permit our partner to repay funds sent by UnitedProsperity.org only after 3 years. On the other hand many individual lenders like to get repaid sooner. To make repayments to individual lenders in line with the loan term specified on the borrower profile we will publish additional borrower profiles and the funds raised for these borrowers will be used for making repayments to lenders who had funded borrowers in previous months. In case we are unable to raise funds in time for the additional borrower profiles, then the repayments to lenders could get delayed by a few months in certain cases and upto a maximum of 3 years. We want you to be aware of the risk of delayed repayment for loans from India.
The delayed repayment risk gets mitigated if there are new lenders coming to fund loans. Hence please invite your friends and family to join you in lending.