Rang DeÂ is a pioneering web based social initiative that supports rural entrepreneurs with cost effective micro-credit for business and education. Through an online portal, Rang De enables individuals to become social investors by lending small sums of money to borrowers from low income households listed on the website.
Launched on 26th January 2008, Rang De’s mission is to knock out poverty in India. So far, Rang De has raised social investments of Rs. 100.3 Million and impacted more than 17,000 borrowers with the help of 4,200 social investors. Many of these borrowers have been able to create or expand their business (ranging from cow-rearing to bag-making to managing tea stalls); while a few others used their loans to pay for the education of their children.
To make this scheme sustainable, Rang De works hand-in-hand with local field partners (often local NGOs) who identify potential borrowers in local communities. Once the borrowers’ business plans are analyzed and approved, their profiles are posted on Rang De’s website where social investors can choose the project in which they may invest as little as Rs. 100.
When social investors invest in borrowers’ projects, not only do they help the borrowers expand their businesses but they also make the borrowers financially independent and escape the clutches of poverty. Plus, it is an opportunity for the investor to stimulate grass-root economic development for the community and the country. This allows the social investor to enjoy a nominal financial return as well as a tangible social return.
Diwali is just around the corner and in the true spirit of the festival, Rang De has decided to light up the lives and dreams of many rural entrepreneurs. Join Rang De’s initiative to Light Up India. Visit here.