Meenaben is 24 years old young business woman. She is running a Torran making business from her home from last two years. Torran is a handicraft item and used in Indian households as a symbol of welcoming guest and decoration. Her husband works as labour but his income is not enough to meet the growing needs of her family. Torran making needs raw material which she presently buys from a local vendor in less quantity. This limits her production and also increases the cost of production. She has requested this loan for purchasing raw material in bulk from wholesaler. She hopes to cut her cost of supplies and increase her profits with the loan amount.
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.