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funding gap emerging markets
India

STEP 5

  • Milaap
  • Invest in a Financial Institution
  • + 39 other investors
  • With a loan of EUR 25,700 around 100 women are able to achieve an improved position by expanding their businesses.

    €25,700
    Amount
    3.00%
    Interest
    24 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€25,700
    Interest3.00%
    Maturity24 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 5 hours on 6 May 2019.

      Summary

      Kolkata is the capital of West Bengal. Kolkata has many suburbs around the main city where everyone struggles to survive. Those areas are known mainly for their skills in weaving saris which is famous across India, weaving saris, knitting, pottery, fish farming etc.

      The households 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 100 women are able to achieve an improved position in the economy, by expanding their businesses. 

      The local partner, STEP along with the partnership with Milaap will provide the loan, which has to be repaid in 24 months. 

      Company nameSTEP 5
      CEOAbhijit Bera
      Founded2010-01-01
      LocationWest Bengal
      SectorFinancial services
      Turnover€5,293,733.64
      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 584 lives are improved

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      We have already contributed to STEP 5

      Danny Honig
      Ron van Eijk
      Jan de Wit
      + and another
      39
      investors