GUWAHATI: In a bid to make potato farmers and rural entrepreneurs of the Northeast financially self-reliant, a social investment firm is offering help in the form of a fund.
Facilitating low-cost, accessible credit for farmers and entrepreneurs from the region, the firm claims annual return of up to 6% for investors, within 6 to 24 months, informed a statement issued Rang De, a peer-to-peer lending platform offering the fund ,on Wednesday.
Called “Northeast Fund”, the fund has already garnered an impressive sum of over Rs 54 lakh from 1,062 investors, and the organisation has set its sights on raising Rs 2 crore within the next three months.
Smita Ram, Co-founder, and CEO of the firm, expressed the pressing need for such initiatives in the region.
“The Northeast is a very underrated region of India where farmers and rural entrepreneurs need access to low-cost credit for pre and post-harvest credit and all also, for working capital for their enterprise,” she was quoted by a national news agency.
Ram further added that Rang De’s comprehensive approach will strive to foster economic growth, stimulate entrepreneurship, and empower individuals across the region to contribute to the region’s sustainable development.
The statement also added that the firm has previously disbursed over Rs 85 lakh in credit to small and marginal farmers in Assam.
In the future, they plan to provide access to credit for more than 10,000 potato farmers in the next two years, thus continuing their vital work of transforming lives through affordable credit solutions.
