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funding gap emerging markets
India

Sampark Financial Services Private Ltd

  • Milaap
  • Invest in a Financial Institution
  • + 62 other investors
  • With EUR 24,800 Sampark can provide 51 women funds to expand their tailoring, beauty parlors, grocery stores, dairy business etc.

    €24,800
    Amount
    3.00%
    Interest
    24 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€24,800
    Interest3.00%
    Maturity24 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 2 days on 6 January 2019.

      Summary

      Odisha houses few of the most financially backward families in India. Communities from Jeypur and Balangir district in rural Odisha villages 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 and Balangir have not relinquished their dreams and aspirations. Milaap, through its partnership with Sampark Financial Services Private Limited, will provide women with funds to expand or set up their tailoring, incense stick making, petty shops, beauty parlors, grocery stores, dairy business etc.

      Milaap provides the loans to Sampark Financial Services Limited that must be repaid in 24 months.

      Company nameSampark Financial Services Private Ltd
      CEOJugal Kishore Pattanaik
      Founded2004-01-01
      LocationOdisha
      SectorFinancial services
      Turnover€247,314.88
      Employees203

      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 201 lives are improved

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      We have already contributed to Sampark Financial Services Private Ltd

      Lot Hagenaars
      Joop Singeling
      Liesbeth Dorama
      Jan van Munster
      Willem van Wingerden
      + and another
      62
      investors