How is RangDe Microcredit different from others?

 Read this very nice blog on the RangDe site about how they are different from other micro credit companies. RangDe is one of better micro finance organization, and have been associated with number of people who are running this. It is really good peer to peer lending model, where you can choose your borrowers, and keep track of what they are doing with it. 

So here is how RangDe is different from other micro credit 

Lowering Interest Rates: The peer to peer lending model is great but we believe it is of no use if we do not deliver value to the end users-our borrowers. We expect social investors to ignore the ROI factor while investing on RangDe.Org and we ensure they have a good reason to do so. Rang De borrowers pay nothing more than 8.5% flat p.a. which amounts to 15.3% A.P.R. We would like to see happy entrepreneurs who are able to see the benefit of the Rang De loan.

Repayment Rate & Mechanism: With the help of our field partners, we ensure that the screening of borrowers is done before their application for a loan reaches Rang De. Once the repayment begins, the communication channels with the field partner remains open. We do accept delays in repayments as long as we are notified of the reasons. Defaults for genuine reasons is accepted and the reasons for default is communicated to the social investor. We are not paranoid about 100% repayment rate but we are paranoid when it comes to transparency.

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