This loan is designed to provide enterprise development opportunities to aspiring rural women entrepreneurs in Gujarat and Madhya Pradesh. The loan will specifically target vulnerable groups such as the elderly, migrant saltpan workers, single women and disabled populations. Milaap’s partnership with Prayas for Sustainable Development has made this loan possible. Prayas is a voluntary development organization working to help vulnerable groups through capacity building activities, natural resource management projects, HIV/AIDS awareness and prevention, human rights advocacy, microfinance programs and livelihood activities. By supporting this loan you’re providing opportunity to vulnerable groups.
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 loans are facilitated through local MFIs and social enterprises, and borrowers repay their loans to these Milaap partner organizations, in accordance with the established repayment schedule. Milaap does not require its partner organizations to report repayment information from individual borrowers, so they are unable to pass this information along to Kiva. Because of this, in the case of a borrower default, the Milaap local partner organization will cover the repayment of the loan to Kiva lenders, with the exception of large-scale defaults due to major events, such as natural disasters.