funding gap emerging markets
India

Chanura Microfinance 20

  • Milaap
  • Local partner investment
  • + 92 other investors
  • With a loan of EUR 25,650 around 90 woman will be able to invest in their respective weaving enterprises in India.

    €25,650
    Amount
    3.00%
    Interest
    24 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€25,650
    Interest3.00%
    Maturity24 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 2 hours on 22 January 2020.
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      Based on all Lendahand historical investments
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      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 the insurgency.

      Against this backdrop, Manipur houses several underserved communities- the 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 providing 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 are headed by women today- with weaving being the primary source of income for them.

      Currently, 90 women from Imphal West in Manipur are seeking a loan to invest in their respective weaving enterprises. Through this loan, they will be able to purchase raw materials such as threads, buttons and upgrade/repair their weaving looms.

      Local partner Milaap provides the loan, which has to be paid back in 24 months.

      Company nameChanura Microfinance 20
      CEOP K Khuman
      Founded2004-01-02
      LocationImphal
      SectorFinancial services
      Turnover€133,619
      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 5 jobs are created
      • With this investment 170 people are reached

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      We have already contributed for Chanura Microfinance 20

      Peter Boot
      Elise Brouwer
      Wilgert Velinga
      Ton Van der Meer
      Piet van der Kooi
      + and another
      92
      investors