We have heard of many ideas and concepts that will enrich people’s lives and help them boast their lives. Most of the NGO’s do such work in the community and people who have money sponsor to such organisations by thinking that they are also part of a large process to help their brothers and sisters to get a good life with adequate support.
However when we look economically to these funds sponsored by these people, it is a non return amount for them. That means if they give something to these charitable organisations, that amount will not be returned to them. Most of the sponsors are unsure about what these NGO’s doing with their money and what difference they made to the society and the community.
To my surprise, I heard about Milaap.org, an organisation and a crowdfunding platform that help families to build toilets, help unemployed youth to get jobs etc etc in India. 80,155 lives have been impacted so far by Milaap. Rs.130 Million rupees has been disbursed as loans. So why an Milaap is doing such work? and how Milaap is standing apart from all the other NGO’s in India.
Who Are Behind Milaap?
Milaap was started in June 2010 in Bengaluru with an initial investment of 15 lakhs. It is the idea that emerged when Anoj Vishwanathan, Sourabh Sharma met Mayukh Choudhury. 500 is the minimum amount one can give to Milaap. If you give 500 rupees to Milaap to a family to build toilet, after 18 months you will get your money back and you can select families whom you want to give the money.
Milaap also provide vocational training to youth. It’s not a charity organization business where you donate money and do not even know where they are spending it and what is the impact of your money, but actually the idea is to loan cash to people who need it. The idea of not making people dependent, but making them independent, making them productive to repay the loan.
100% of the contribution go to the borrower and Milaap charges a 5% fee on the loans disbursed to its field partners. The partners of Milaap can be accessed by going to the field partner page.
Outlook have a good article about Milaap by Kripa Mahalingam and you can http://www.outlookbusiness.com/article_v3.aspx?artid=287413read the article.
Milaap Social Ventures India Pvt. Ltd. No : 549, 26th main, 14th cross, JP nagar Phase 1, Bangalore, India 560078 Email – [email protected] Phone – (+91) 88803 40333