funding gap emerging markets
India

Prayas 16

  • Milaap
  • Local partner investment
  • + 43 other investors
  • With EUR 23,550 around 106 women can expand their tailoring, saree, broom, grocery, poultry, masala and other businesses.

    €23,550
    Amount
    3.00%
    Interest
    24 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€23,550
    Interest3.00%
    Maturity24 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 10 hours on 11 October 2018.
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      Based on all Lendahand historical investments
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      Project will be fully funded

      Summary

      Rural Kutch in the state of Gujarat is heavily dependent on agriculture even today. With one of the lowest literacy rates in the country, most children study till middle-school level here. In the district, 15-20 villages often have one common school. Households in these villages have an average size of 5, sustaining on a meagre average monthly income of $95. In addition to farming, women of the community are engaged in tailoring, accessory making, broom making, beauty parlour services, petty shop businesses. The communities sell a considerable amount of the local produce in ‘haats’ or local bazars including jowar, bajra, maize, sesame, groundnut, onions and potatoes as well as jewellery, hair accessories etc. The men most often migrate to nearby towns for better job opportunities- often an unhappy transition.  Even in the face of poor infrastructure and connectivity, these women are unrelenting and hardworking.

      The resolute women want to start or expand their business in the hope of a better future. These businesses range from animal husbandry, dairy businesses, petty shops, women's accessories, vegetable vending, spice selling etc. 106 women and their respective families will enjoy better income and savings!

      Company namePrayas 16
      CEOBhadresh Rawal
      Founded1997-01-01
      LocationGujarat
      SectorFinancial services
      Turnover€338,645.44
      Employees105

      Impact

      Milaap is the largest crowdfunding platform in India, enabling stories of hope, courage, and change. They provide credit services to the poor and excluded to help them to work themselves out of poverty.

      Milaap partners with a range of credit-worthy field partners who hold a strong social mission. They grant loans for energy projects, water access, artisan supply chains, and more, mostly in rural areas. Many of their projects empower women entrepreneurs, mainly providing working capital to women with a weaving enterprise, small shops, or handicrafts.

       

      SDG’s impacted

      With this project you are contributing to the following Sustainable Development Goals:

      SDG 1. No poverty

      SDG 3. Good health and well-being

      SDG 5. Gender equality

      SDG 6. Clean water and sanitation

      SDG 8. Decent work and economic growth

      SDG 10. Reduced inequalities

      Read more about the impact you can make through our platform and the SDGs on our impact page.

       

      Related blog articles

      Many Milaap projects support female entrepreneurs in India. Learn more here on how female entrepreneurs are driving GDP growth worldwide.

      • With this investment 10 jobs are created
      • With this investment 400 lives are improved

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      We have already contributed for Prayas 16

      Ton Van der Meer
      Casper Roos
      Marlies Witteveen
      Frank Fekken
      Marco Mansveld
      + and another
      43
      investors