Sixteen and counting!

January 19, 2009
By Rang De Team

Taking a loan was a huge step for Nita. Even though she was keen to sign on the dotted line, there was understandable trepidation — Will she be able to repay the loan?

She dared to dream and make it happen.

Today, Nita has repaid her entire loan. It is time for us and our social investors to vouch for her and stand guarantee for her next loan cycle. At Rang De, we know that we have not changed the whole world, but certainly changed hers. The loan from Rang De, created an avenue for Nita to establish herself as an independent identity instead of someone’s wife, mother or daughter.

We have shared such stories of the transformative effect of Rang De loans on individual borrowers in our earlier updates. We have reason to celebrate again! Thanks to our field partners who work closely with the loan recipients, analyzing the credit risk, making loan decisions and collecting repayment, in the next few weeks, sixteen of our borrowers complete their first loan cycle successfully!

These borrowers have started and expanded tiny businesses and now have a longer vision of life. Our loans have transformed their families, living standards have improved and more children have been clothed and fed. With the aid and encouragement from our supporters and investors, Rang De loans aims at giving the same chance of salvation for the hundreds of borrowers our field partners recommend.

We are well on our way to making a difference where the economy is almost non existent, at places where there are no banks, no opportunities to borrow money and no one else that can help in any form. Yet we have a small fund.

By reinvesting the returned loan amounts, we can change lives. The money you invest into the system gets lent to a borrower. When it comes back it is lent again and it comes back. It stays working indefinitely. With every cycle it goes, these loans will alleviate more people who live on the edge of poverty.

If you are inspired to do something radically different, plug in and make a difference.

Rang De is not just about raising capital, but also about raising the self respect and standing in a society. It is but a constitutional right that all humans should live a life of dignity.

Rang De is transitioning from a charitable trust to a Non Banking Financial Company. Check out our brand new peer-to-peer lending platform