DARE - Because Entrepreneurs Do

Product: Microcredit
Brand: Rang De
Industry: Microfinance
Location: Chennai

Rang De is a web-based social initiative with a mission to provide cost effective microcredit to low income households in India. It enables individuals to participate in microcredit by lending as little as Rs. 100. Since January 2008, Rang De has reached out to over 2500 entrepreneurs across 10 states by lending over Rs. 14 million. Over 1300 individuals across the world have become social investors on Rang De. The repayment rate claimed is 98.9%. Rang De currently funds business and education loans. Their latest initiative is a microcredit backed job guaranteed vocational training program, in partnership with Pan IIT Alumni Reach for India (ReachForIndia.org). The program aims to reach out to first-time Below-the-Poverty-Line borrowers by providing them low cost loan capital for vocational education. The beneficiaries will undergo a one month fit-for-purpose training program at the end of which they will receive a certificate and employment in the relevant industry.