Milaap is one of the largest crowd-funding sites in India, raising funds valuing in total of $32.2 Million so far. It has large group of field partners including various Non-Government Organizations (NGO's) and financial institutions which are located in various parts in India mainly in rural areas.
Milaap is currently supporting both Lending and Donations, users of Milaap can choose various categories on the website like Children, Education, Rural development, Social entrepreneurship, Women and others.
The good thing about field partners in Milaap is majority of them have 100% repayment rate, if not atleast >90%. It also offers Tax Benefits for individuals who donate for good cause.
Milaap is also a good platform, if anyone is planning fundraising for any social cause. It has decent pricing targeting different groups of the society.
- "Do it yourself" which is must suitable for individuals & small NGO's. Milaap charges 5% of the fund raised though its platform and Taxes and Payment Gateways charges extra.
- “Assist” which is designed to target medium and large companies as part of their Corporate Social Responsibility. Milaap charges 8% of the fund raised though its platform and Taxes and Payment Gateways charges extra.
- “Amplify” – This is designed for special campaigns which is solely decided by Milaap.
Milaap accepts both USD and INR for donations and loans. Once borrowers paid the money back to field partners, Milaap will collect money and return to the respective lenders in terms of “Milaap Credits”. User has option to relend that credits as loans or donations.
As we are lending the money there is always a risk of principal loss. No one neither Field Partners nor Milaap guarantees repayment or financial return for lenders contribution. But we can contribute for a good cause or support people who are in need.