SM Gram Bikash Kendra 7
With EUR 19,650 around 88 women are able to expand their businesses and improve their economic positions.
€19,650
3.00%
24 months
6 months
EUR
CurrencyAmount | €19,650 |
Interest | 3.00% |
Maturity | 24 months |
Repayments | 6 months |
Currency | EUR |
The project
Read the information document of the issuer here
India is still home to several tribal people who are not introduced to the lifestyle of the modern world. Such a population lies in the Burdwan region of North Bengal. They are known as the ‘Adivasi’ community and belong to the section of the poorest in the country. The economy is predominantly rural, with the members still dependent on nature to a great extent through agriculture, hunting, fishing etc.
The households within these tribes consist of five members on an average. The women are typically engaged in the small businesses their husbands run which include small tea shops, grocery stores, bidi making enterprises etc. The average household sees earnings not more than $88-$94 every month. Children go to school in nearby government schools for which they travel long distances. Due to financial constraints or the pressure of domestic chores, a lot of these students drop out. Regardless of all their problems, the community remains vibrant and has a strong sense of brotherhood.
With this loan around 88 women are able to achieve an improved position in the economy, by expanding their businesses.
Local partner Milaap will provide the loan, which has to be repaid in 24 months.
Company name | Milaap |
CEO | Ganesh Modak |
Founded | 2005-01-01 |
Location | West Bengal |
Sector | Financial services |
Turnover | €332,419.20 |
Employees | 82 |
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 6 jobs are created
- With this investment 24 lives are improved