Change is coming to those near youDriving change through the Influencer Project
“Anjali is so happy! Her alternative was 10% in interest a month. And here she is getting this loan at 10% in interest a year.” said Mr. Joshi when we caught up with him last evening. Mr. Joshi is our first social investor to refer someone he trusts to receive a loan through Rang De’s platform, as a part of The Influencer Project. He’s chosen to refer Mr. Ashok Kumar who he’s known for over 20 years through Mrs. Anjali Kumar, Ashok ji’s wife, who works in his home. Ashok ji and Anjali ji have a beautiful family of five children, four daughters and one son. Their oldest daughter Sunita is getting married on the 8th of November, and they need financial support to fund her wedding. Unfortunately, they were refused credit from the banks, and thanks to The Influencer Project, Mr. Joshi was able to step in, not with a hand-out or an informal cash loan, but instead with a formal loan, routed through Rang De’s RBI regulated platform.
Through the Influencer Project, you can refer someone you trust and interact with regularly to receive a formal loan through Rang De. This could be your domestic worker, driver, cook, carpenter, dog walker, anyone you can vouch for, who is also financially excluded. By lending through our platform, you are helping this person build a credit history, and hence enabling them to access credit more easily from formal financial institutions in the future. A lot of you may already give informal loans to people you know closely. By lending through Rang De, you are now transforming an act of generosity into an act of longer-term financial inclusion.
All you have to do is share information with us about the person you want to refer and their credit requirements. We’ll then review this referral and run it through our due diligence process. Once it’s approved you are invited to be the first person to invest in your referred borrower. And then you go on to raise the remaining funds required to fulfil their loan, by inspiring your friends and family to invest in them too.
As a part of the referral process, you are asked to share a selfie of you and the person you want to refer. Mr. Joshi chose to visit Ashok ji and Anjali ji’s home to click this picture. What’s really powerful is that he had never done this before in all of their 20 years of acquaintance, and he shared that the experience was deeply moving. This is one of the big reasons we are so excited about The Influencer Project. Not only do we see it as a possible revolution in financial inclusion, but also as a driver for deeper human connection and empathy.
Anyone can be an influencer. That’s the power of this project. As long you know someone you want to support, and can trust, and are committed to helping them through this journey, you can become an influencer too.
Find out more about The Influencer Project