Here's to the New Year
With the end of the year fast approaching , I wanted to write to you all and say Thank you for everything we have achieved. So much has happened over the last year, so much more is happening right now, and I can't even begin to imagine what lies next. Since the launch of our pilot program six months ago, we have accomplished so much. There has been 100% repayment rate till date.
The first set of our women microentrepreneurs from Maharashtra have been repaying on time, reinvesting the loan amount back in
the business and kickstarting new initiatives in healthcare! Bangalore Mirror featured our efforts as an innovative way to unite the moneyed and the cashless while NextBillion, the leading knowledge center in the development sector reviewed us as an high-potential startup.
Our campaign, to raise awareness for sanitation, found support from 1000 individuals spread across 20 countries and 5 continents have voiced their support in less than 7 days and our campaign got mentions from folks at Acumen Fund, Water.org, WaterCredit, ThinkChangeIndia, YourStory.
We launched our second pilot program in Trichy, Tamil Nadu to provide clean water and safe sanitation and the works have already begun!
None of this is possible without you. These loan programs weren't available to these entrepreneurs before and still aren't, except the loans you're making. It is just so humbling to know that you, me - together are making a such a meaningful difference in the world.
After the initial launch buzz we did in November, we got lot of feedback and all through December, we have been working on a couple of things to make sure that you know what exactly happens with your money when you make an investment on Milaap.
So starting next month, you will see more communication on the website with respect Milaap's operational processes, and how we work with our partners, and the impact you have made along with your investment repayments.
Also, we'll be adding more local payment options for Indian residents - so you don't have to pay foreign currency conversion charges and other transaction charges related to PayPal. For our international lenders, we are still on the look out for an alternative to PayPal and/or how to reduce the transaction charges.
If you think you can help us in anyway, do write to us at email@example.com or comment on our Facebook page or reach us on Twitter.
On that note, Wish you all Happy Holidays and a Superb Year 2011!
The Milaap Team.
May it be a great one.