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funding gap emerging markets
India

Prayas 5

  • Milaap
  • Invest in a Financial Institution
  • + 7 other investors
  • With EUR 36,400 around 125 woman can expand their business activities and increase the income of their family.

    €36,400
    Amount
    3.00%
    Interest
    24 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€36,400
    Interest3.00%
    Maturity24 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 20 hours on 12 April 2017.

      Summary

      Rural Gandhinagar 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. 125 women and their respective families will enjoy better income and savings!

      Company namePrayas 5
      CEOBhadresh Rawal
      Founded1997-01-01
      LocationGujarat, Adalaj district
      SectorFinancial services
      Turnover€419,722.59
      Employees108

      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.

      • With this investment 12 jobs are created
      • With this investment 48 lives are improved

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