Mahashakti Foundation 6
With a loan of EUR 24,350 the Mahashakti Foundation can provide 73 loans to women to expand their businesses.
€24,350
3.00%
24 months
6 months
EUR
CurrencyAmount | €24,350 |
Interest | 3.00% |
Maturity | 24 months |
Repayments | 6 months |
Currency | EUR |
The project
Odisha houses few of the most financially backward families in India. Communities from Jeypur district in rural Odisha slums lack even the basic amenities such as personal water connections and toilets.
A typical household in this setup consists of four members on an average- wife and husband, and their two children. The women of these households are homemakers or are engaged in small businesses such as tailoring, incense stick making, petty shops or beauty parlors, while the men are usually away, working in nearby towns and cities as carpenters, drivers, construction workers and daily wage laborers. The women and men of these households together are able to bring in no more than $90-$150 per month.
In spite of the hardships that accompany such low incomes, the people of Jeypur have not relinquished their dreams and aspirations. Milaap, through its partnership with Mahashakti Foundation, will provide women with funds to expand or set up their tailoring, incense stick making, petty shops, beauty parlors, grocery stores, dairy business etc.
Local partner Milaap provides a loan to the Mahashakti Foundation that must be repaid in 24 months.
Company name | Milaap |
CEO | Jugal Kishore Pattanaik |
Founded | 2004-01-01 |
Location | Odisha |
Sector | Financial services |
Turnover | €249,796.18 |
Employees | 203 |
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 5 jobs are created
- With this investment 305 lives are improved