In recent years there has been an increasing demand for organizations that allow members of the global diaspora to reconnect and give back to their respective countries of origin. Additionally, many diaspora groups are part of a burgeoning global community, and as such, require an efficient and convenient method of partnering with their home countries. At Milaap, an online social enterprise, these requirements are achieved quite skillfully.
YouTube Video – Creating Impact With Our Partners
Milaap is an innovative crowd-funding platform that endeavors to connect the working poor of India to global social impact investors, lenders, and philanthropists, through the use of an online portal. In keeping with the well-known adage, “Give a man a fish, and you feed him for a day. Teach a man how to fish, and you feed him for a lifetime”, Milaap gives the working poor of India the opportunity to make their own future successful. This is done through the use of customized short-term microloans, which are loaned out at rates 50% cheaper than those of established microcredit organizations. As this process occurs, a cycle of growth and employment is created, one that provides basic needs and services, such as water and sanitation, education, vocational training, etc. Through the use of Milaap’s simple but impactful system, anyone can make a difference.
One such success story is of Purnima, a student of class 5 at Vikas School in Bhubaneswar. Purnima starts her day with a great habit that only a few kids of her age group may have. She starts by reading an English newspaper – The Times of India, and jots down important news in her diary. She also learns dance at school, and recently performed during a school-run Annual Day program. Her father runs a grocery business and her mother does tailoring work at home. Given her parents’ average means and the relatively high cost of schooling in Bhubaneswar, access to quality education is a far-fetched dream for this talented child. Nevertheless, with the help of a Rs. 20,000 loan from Milaap and its generous lenders, Purnima is able to receive an education that best supports her interests. Purnima wants to be a teacher when she grows up, and frequently emulates her teacher at school.
Milaap aims to impact 100,000 lives, just like Purnima’s, through the disbursal of USD$3.0 million by the end of 2014. With your support, we aim to strengthen the role the South Asian diaspora community plays in giving back to India. Milaap is incredibly efficient and transparent, and makes initiating a campaign and raising funds for a cause of your own choice uncomplicated, at only a few clicks away. So go ahead, Loan a Little, Change a Lot.