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funding gap emerging markets
India

STEP 9

  • Milaap
  • Invest in a Financial Institution
  • + 69 other investors
  • With a loan of EUR 22,050 around 43 women are able to achieve an improved position by expanding their businesses.

    €22,050
    Amount
    3.00%
    Interest
    24 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€22,050
    Interest3.00%
    Maturity24 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 1 day on 10 September 2019.

      Summary

      Kolkata is the capital of West Bengal. Kolkata has many poor neighborhoods where people do their best to survive. Many women in these neighborhoods have focused on weaving fabrics, sewing and tilling the land.

      Most families consist of 5 people. The average income is around $ 90 a month. Children often have to travel great distances to go to school. Still, many families manage to keep their heads above water by making and selling products.

      With a loan, the STEP organization can help 43 women to expand their businesses.

      Local partner Milaap is the borrower and provides the financing to STEP.

      Company nameSTEP 9
      CEOAbhijit Bera
      Founded2010-01-01
      LocationWest Bengal
      SectorFinancial services
      Turnover€5,449,602.88
      Employees52

      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 228 lives are improved

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      We have already contributed to STEP 9

      Jan Mostert
      Edwin Tofield
      TOM Weber
      Ron van Eijk
      Ton Van der Meer
      + and another
      69
      investors