RangDe: Proud to be micro-financing a solar oven assembler!

Ambika Manikandan 's Evaluation Notes

First Evaluation : Ovens Raise Profits See more evaluations

The loan allowed Ambika to buy the components for her business in larger numbers. She told Ajesh our evaluator that this has helped her to cater to more clients and she is able to sell more of the solar powered ovens that she assembles. Her two year old business has seen a marked improvement and she is able to repay the loan with ease. Evaluated by Ajesh 1 month ago

Borrower DetailsView borrower profile

Location : Palakkad, Kerala      Activity : Solar ovens selling Current Loan Status : Repaying Ambika is involved in an unusual occupation. She buys oven parts and assembles it into solar powered ovens. They are then sold under the brand name of "Excellent". She works in a team and she needs funds to buy the parts. She operates from home and is a significant contributor to the family income. Her daughter is in class twelve and Ambika would like to see her complete her education.

RangDe.org - an investment I'll always cherish

>>Update: My post got feattured on RangDe.org's blog! Click here to see!

A year ago, I had invested Rs.2000/- in a passionate 5-minute debit card transaction, with http://www.rangde.org website through which we can make small investments directly to help small entrepreneurs in some far-off places in India where we otherwise could not travel.

Friends and family I later talked with about this, had cast doubts on the trustworthiness and effectiveness of such setups, they poo-poohed my unwise decision and our conversation had ended there...

One year on, I'm proud to announce good news : performance is a better indicator than status and appearance.... while the huge banks of the world are having such a rut from their lending and then sucking money from taxpayers, it looks like micro investment options like RangDe are getting almost 99% of all the money lent out, returned on time.

I will let the screenshots below speak for themselves - and am glad I was able to help out a small time entrepreneur in Andhra Pradesh. I now have nearly all my invested money back and am re-investing part of it with a breakfast vendor in Maharashtra.