x

RSS Newsfeeds

See all RSS Newsfeeds

Global Regions

Asia ( XML Feed )

Jun 22, 2016 1:30 EST

India: A portion of Dashini And Group’s $900 loan helps a member to purchase more necessary raw materials for expanding her incense sticks business.

iCrowdNewswire - Jun 22, 2016

Dashini And Group

India Nambol, India / Manufacturing
 
Borrower image
 

A portion of Dashini And Group’s $900 loan helps a member to purchase more necessary raw materials for expanding her incense sticks business.

 

Dashini And Group’s story

Thirty-two-year-old Dashini is a resident of a small village in Bishnupur district, Manipur. She is married and a mother of three children: a daughter and two sons who are enrolled in a school. Dashini is not able to manage her family’s needs due to rising prices and she has been supporting her husband in earning with her incense-making business. She purchases raw materials from the market, makes incense and sells it to her neighbours, local markets and in the nearby villages. She wants to expand her business.

With the help of YVU, a partner of Milaap, she has formed a group called Dashini and Group, consisting of five members. They wish to expand their businesses and contribute more money to their family’s needs. Together, they need a loan of Rs. 60,000 that will be used for their respective businesses. With the loan amount, Dashini will purchase good quality raw materials like sandalwood powder, fragrant oils, sawdust, sticks and other items for making incense sticks in a large quantity. As her neighbours are her regular customers, she wants to sell good quality products to make a good profit from her business.

With your help, these women will be able to sustain and expand their businesses. The increase in their income will help them manage their monthly expenses and not cut down on basic necessities like the children’s education and medical needs.

In this group: Puina Devi, Ibempishak Devi, Bormala Devi, Romila Devi, Dashini Devi
*not pictured

 

This loan is special because:

It enables people in financially excluded areas to access credit and start businesses.
 

 

Akshay Regmi
Kiva staff

 

More about this loan

This loan is designed to provide impoverished locals in northeast India with credit to develop and build their own microenterprises. The loan will target underprivileged communities in Assam, which is one of the poorest and least developed states in India. Milaap’s partnership with Youth Volunteer’s Union (YVU) has made this loan possible. YVU is primarily a social service nonprofit organization, which focuses on agriculture development, watershed programs, lift irrigation projects, and environment and social issues awareness. By supporting this loan you are supporting microenterprises in an underdeveloped area of India.

About Milaap:

Milaap enables individuals all over the world to give a loan to the deserving, working class of India – students, small businesses, families – who need a small amount of capital to get ahead and change their lives for the better.

Milaap’s model is similar to Kiva’s. Milaap partners with proven, credible grass-root level organizations to identify deserving borrowers and the amount of financial assistance they need. The borrowers are published on the Milaap website and the profiles get funded by both individuals and organizations around the world.

This loan will be repaid to Kiva lenders in monthly installments, which is similar to Kiva loans in most countries but unusual for Kiva loans in India. This is because Kiva’s Field Partners based in India must wait 3 years before funds can be repaid, due to Indian government regulations. Milaap is still subject to the 3-year waiting period, but it has an entity in Singapore, which allows it to repay Kiva on a monthly basis through net billing.

Contact Information:

Dashini And Group

View Related News >
support