As a media organization focused on the Asian technology startup community, we have managed to create a suitable ecosystem for the growth of local entrepreneurs. We have been able to accomplish this by giving them our support and access to links to capital and helped them gain visibility.
But there is a large segment of entrepreneurs lacking in an efficient support system. The ones at the grassroots – they lack neither the ability nor the drive, yet they are a largely ignored community. They are barely able to make ends meet, running small businesses making handicrafts, tailoring clothes and more.
Through Milaap.org, we aim to do our bit to bridge this vast gap between these little known, unfunded, untouched-by-technology entrepreneurs. When you make a contribution on the E27 Entrepreneurship Development Fund, you are helping an entrepreneur grow his/her business a little. Your funds will help them buy more machinery, or raw material and scale up production.
All funds raised on this fundraiser are given out as loans to entrepreneurs in small towns across India. The funds are disbursed as a loan, not a donation. This means that 100% of your contribution comes back to you at the end of 24 months.
Milaap is Asia’s fastest growing crowdfunded online platform that enables people around the world to give loans to the working poor in India. Based in Singapore and Bangalore, Milaap is the world’s first and currently, the only online microlending platform that enables non-Indians and non-resident Indians to make loans to the poor in India.
Milaap’s loans are aimed towards providing people with access to basic essentials like clean drinking water, sanitation, renewable energy, vocational training and enterprise development. To date, Milaap has deployed USD 250,000 in loans, making an impact to over 5000 lives across India.
A few things that you may want to know about the money that you lend:
This is a loan, not a donation.
Find out more about Milaap.org the methodology of how it all works.
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