Among the several fascinating results presented at Startuponomics last year, and possibly reiterated this year is one by Prof. Mike Norton at Harvard on how to buy happiness. The study found that “…participants who were randomly assigned to spend money on others experienced greater happiness than those assigned to spend money on themselves.”
This Labor Day weekend, there is a unique opportunity for you to do just that. I know in the recent past Microfinance and micro-lending in India has been rocked by allegations against SKS in its role in suicides of borrowers. At the same time, access to capital has made the lives of millions of people across the world better as proven by Grameen Bank and other pioneers in this field. What is key is the rate at which loans are made to the end beneficiary and how involved the lenders and the intermediaries are in terms of repayments in an effective manner.
The latest entrant into this in the recent past is Milaap. Started by three enthusiastic individuals in the summer of 2010, it is rapidly growing to become a force to reckon with in the lending space in India. Milaap lends in India and has an arm in Singapore for fundraising. This unique fundraiser gives you the opportunity to lend $25 of funds that Milaap has raised, to an individual seeking loans within the Milaap database. You can find more information about this on the Facebook page for the campaign.
Still not convinced? Take a look at Milaap’s YouTube page as well, with videos about how the loans work and profiles of some lives that were transformed through the contributions of individuals such as you.
So what are you waiting for? Sign up, use a few minutes of your upcoming three-day weekend to check out Milaap’s website and help transform lives!
You can visit the campaign page here.