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Follow on Google News | Milaap.org adds Safe Hands Cooperative Society to its list of field partners.Milaap.org, the world's first online platform to allow online microlending to India both from inside and outside India, has a new field partner, Safe Hands Cooperative Society (SHCS).
By: Milaap Milaap raises funds to help the poor get access to essential needs such as clean drinking water, sanitation, education, clean energy apart from livelihood opportunities through their website http://www.milaap.org. These funds are disbursed as loans, rather than donations. Anyone with an internet connection and the desire to do good can lend to the borrowers on the site, starting with as little as Rs. 1000 or US$25. 100% of the money goes to the borrower chosen, and when the borrower repays the loan, 100% of the money is returned to the lender. The lender can then choose to withdraw the money, or re-lend it to someone else in need, multiplying the impact. Milaap has now added Safe Hands Cooperative Society to its list of field partners. Safe Hands is a cooperative society that provides financing to students for educational loans and personal loans as well. Through Safe Hands, Milaap will provide loans to students to enable them to participate in the Kautilya vocational training program. This program will train students in various courses such as accounting, banking, taxation and operations management. The courses are provided by the Deshpande Education Trust in the state-of-the- Speaking about the program, Milaap’s co-founder and Head of field partnerships, Mayukh Choudhury said, “Once they graduate from this program, the students will have the practical hands-on accounting and banking skills as well as training in using accounting software. It will also help students to polish their English speaking and communication skills to prepare them for the competitive job market and help launch their careers.” Apart from loans for basic necessities, Milaap continues to lay emphasis on livelihood and income generation programs because they are sustainable and play a role in improving the earning potential of borrowers. End
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