While the issues of poverty and lack of education around the world are still daunting, we’re grateful here at Soap Hope to partner with organizations like Milaap, who are addressing these problems with innovative new platforms and technology.
Milaap: Creating Connection through Technology
Milaap means “connecting people” in Hindi, and was founded by three entrepreneurs in 2010 — friends with a single vision “to change people’s concept of giving and make it a personal, transparent, and sustainable process.”
The Milaap microlending program is unique in its implementation of a technology platform that allows for people to lend money to a number of people in need.
Lenders are able to choose from a list of borrowers, based on their needs and loan requirements. The eligible borrowers are selected by Milaap’s field partners, who are “established organizations that have a strong presence at the grassroots [level], a deep understanding of their communities and challenges, and a commitment to serve their needs.”
The borrowers receive 100% of the funds, and lenders are able to track the process of the loan through the Milaap platform, where the stories and progress of the borrowers can be shared with a larger audience.
Usha is one of the borrowers who has benefited from Milaap’s giving platform and your Soap Hope purchases.
Usha is 28 years old and leads Samanvaya SHG, a company that produces natural home décor products. Samanvaya has been up and running for the last 8 years, and regular production activities have helped its members to support themselves and save for the future. Usha was able to purchase a small facility in her hometown from her savings.
There are other women who want to join Samanvaya SHG, but Usha needed adequate machinery and infrastructure to accommodate more women, which is why she applied for a loan from the Milaap program.
Supporting Usha will allow her to grow Samanvaya and empower more women in her community to support their families and save for brighter futures.
Creating a Wider Impact
By partnering with innovative organizations like Milaap, Soap Hope is able to create a wider impact with our profits. We believe that businesses everywhere can create this kind of change in the world, but only through the hard work and creativity of companies like Milaap that share this vision.