funding gap emerging markets
India

Chanura Microfinance 4

  • Milaap
  • Local partner investment
  • + 73 other investors
  • With EUR 27,400 more than 100 woman can purchase raw materials like threads, buttons and upgrade their weaving rooms.

    €27,400
    Amount
    3.00%
    Interest
    24 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€27,400
    Interest3.00%
    Maturity24 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 9 days on 16 July 2017.
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      Invest from €50
      Average investment
      Based on all Lendahand historical investments
      Complete funding
      Project will be fully funded

      Summary

      Manipur is one of the ‘seven sisters’ in the Northeastern region of India. The state is breathtakingly beautiful but happens to be one of the most impoverished states in the country.  The region has had a very volatile history, and continues to be fraught with problems relating to insurgency.


      Against this backdrop, Manipur houses several underserved communities- majority of which have tribal ancestry. The area lacks even basic infrastructure in some places.  Although it is home to more than 33 different ethnic groups, there is a perpetual breakdown of law and order. As social peace is not assured in this volatile region, Manipur finds it difficult to attract investment in the region due to rapidly rising ethnic violence. However, with abundant natural resources like lush hills and plenty of rivers, the state holds much promise in traditional cottage industries and tiny village based units that are critical to provide employment.   

      Weaving is the biggest industry in Manipur. One of the most special features of this sector is that Manipuri weaving is entirely the work of women. It is considered a part of their domestic duties. They make a remarkable contribution to this sector. There are unique embroidery and weaving styles such as Moiraingphee, Leirum, Lasingphee and Phanek. Chanura has recognized the importance and influence of women workforce who have the skills for this beautiful art of intricate designing. Presently, about 35% of the total clients of Chanura are weavers. This craft is so rich, that it takes time and dedication to preserve it. Nearly one in four households is headed by women today- with weaving being the primary source of income for them. 

      Currently, 109 women from Imphal East in Manipur are seeking a loan to invest in their respective weaving enterprises. Through this loan, 109 women will be able to purchase raw materials such as threads, buttons and upgrade/repair their weaving looms.

      Company nameChanura Microfinance 4
      CEOP.K Khuman
      Founded2007-01-01
      LocationManipur
      SectorFinancial services
      Turnover€153,696.31
      Employees38

      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 7 jobs are created
      • With this investment 28 people are reached

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      We have already contributed for Chanura Microfinance 4

      Bram Timmerman
      Gert Baas
      Frans Wittenberg
      Elke Krekels
      Frank Fekken
      + and another
      73
      investors