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Santha Elumalai and Mr. Elumalai
Mr. and Mrs. Elumalai run a furniture business out of their home, serving the Kancheepuram area. They sell windows, doors, chairs, dining tables, office furniture and various other wooden furniture products. Mr. Elumalai is involved in the design, carpentry, and production of all of the products. Mrs. Elumalai runs the front-end of the business, selling to customers and also helping with carving details on certain products. Demand for furniture, windows, and doors are strong in the area, as the construction industry in the area is experiencing rapid growth.
Demand for quality furniture is growing rapidly. Help this business keep up.
- Local currency:
- Rs100,000.00
- InVestment Size:
- $2,372.70 $1.00 = Rs42.15 as of 08/02/2011
- Expected InVestment Term:
- 25 months
- Currency Exchange Loss:
- Possible
Currency Fluctuations
Since our micro-entrepreneurs are based internationally, their investments will be disbursed in their local currency. Interest rates, political instability, economic/financial market conditions can affect a currency's value with respect to the US dollar. Given the inherent risky natural of these developing economies, currency devaluation is possible. Currency exchange loss on your principal is possible if the US Dollar appreciates by more than 20% against the local currency.
| Country: | India  |
|---|---|
| Business: | Furniture Store |
| Years of Experience: | 20 |
| Number of Employees: | 5 |
| Previous Micro-Loan History: | previous loans of Rs. 20,000 and Rs. 25,000, both repaid according to principal and interest schedules |
Terms: Flexible, revenue-sharing contract. Mrs. Santha commits 2% of her monthly revenue in the form of variable-rate dividend payment. These payments are capped at a maximum of 30% of the InVestment amount per annum. The micro-entrepreneur is given a one month grace period in which no dividend is due and will make monthly principal payments based on the pre-determined InVestment term. Mrs. Santha pledges 1% of her monthly net profit towards a Community ReInVestment project. InVenture will receive a management fee of 10% of the total InVestment size, paid from the cumulative revenue-share dividend payment, InVestors will receive SEEDs based on the residuals.
Community Re-InVestment
InVenture believes that community reinvestment can be catalyst for a positive feedback loop; growing a community through a business, while growing a business through a community. Mr. and Mrs. Elumalai will be reinvesting a percentage of their monthly gross profit in a community development project through the Association of Sustainable Community Development (ASSCOD). Mr. and Mrs. Elumalai's reinvestment will directly support ASSCOD's education and health initiatives.
Learn more about community re-investment
Featured Update
Last Activity:
Progress Payment $101.68 made on 12/15/2012
December repayment
Recent Activities:
Progress Payment $107.51 made on 11/15/2011
November repayment
Progress Payment $111.26 made on 10/16/2011
October repayment
Progress Payment $84.14 made on 09/15/2011
September repayment