funding gap emerging markets
India

Velicham Finance Private Limited 3

  • Milaap
  • Local partner investment
  • + 31 other investors
  • With a loan of EUR 13,250 Velicham Finance will be able to support around 37 families in the district of Thiruvarur.

    €13,250
    Amount
    3.00%
    Interest
    24 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€13,250
    Interest3.00%
    Maturity24 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 5 hours on 16 July 2019.
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      Based on all Lendahand historical investments
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      Summary

      The district of Thiruvarur is situated at the tail end of the Cauvery Delta and it is also a coastal district. Here, most of the crop production is only from paddy and the income from agriculture is low in comparison with other occupations. Women engage in animal rearing, masala-making, dairy businesses, etc in their local area.

      The average monthly income of such families is less than $60. The women in Thiruvarur want to take the responsibility of earning for their household to support their children, secure their livelihood and future. Hence, Velicham has been helping out such women borrowers and their families in Thiruvarur by providing them with loans. Through this project, these rural communities of Thiruvarur will benefit socioeconomically.

      Company nameVelicham Finance Private Limited 3
      CEONagarajan Bharathi
      Founded1984-01-01
      LocationTamil Nadu
      SectorFinancial services
      Turnover€2,568,375.70
      Employees43

      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 5 jobs are created
      • With this investment 185 lives are improved

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      We have already contributed for Velicham Finance Private Limited 3

      Corné de Haas
      Jacques van den Bosch
      Els Mol
      Rein Goedkoop
      Ron van Eijk
      + and another
      31
      investors