If you want to create social impact, then Milaap is the place for you to lend. We encourage both individuals from around the world and corporates to lend on Milaap.org
The loan amount starts at 25$ for foreign nationals and Rs. 500 for Indians.
For corporates, we design special corporate lending programs. We also develop CSR initiatives to engage employees at the corporate level.
There are primarily two ways to lend through Milaap:
Online Loans - https://milaap.org/fund
For those who are unable to make their loan via our online portal, you can pay via cheque or electronic fund transfer.For those in India, you could write a cheque in favor of “Milaap”. You can also transfer the amount to our India account. Account details are given below :-
Please send us an email at firstname.lastname@example.org once you have made a loan this way, so that we can ensure that we receive the amount without any confusion regarding the same.
Since the loans you make on Milaap are repaid by the borrowers, your loan is not tax deductible. Unlike charitable contributions where you make a donation (which can be tax deductible), Milaap accepts only loans made by you to deserving borrowers across India.
Milaap does not charge lenders a fee to lenders. We even absorb transaction fees to ensure that lenders are able to create maximum impact with their loans .
You will receive an email confirmation once your loan transaction is successful. This email includes details of the borrower, the loan cycle, date of loan, and area of focus.
To make a loan on Milaap you register as a lender with a Milaap account that consists of all loan specifications, including monthly updates on the utilization and repayment of your loan.
Your loan enables deserving financially-challenged borrowers to gain better livelihood means and access critical services, essential for health and dignity. To read more about the quantitative impact of your loans, visit https://milaap.org/about-us/impact.
To view specific stories of change, you could watch our videos at www.youtube.com/milaapdotorg
The loan period on Milaap typically ranges from 12 months to 36 months. However, this changes from one borrower to the next. This is because customized credit programs are created for each borrower.
Milaap and its field partners work closely with borrowers to create customized credit programs. These take into consideration the borrower's income-expense ratio and the regularity in cash flow while setting a repayment schedule that is realistic and can be honoured.