Crowdfunding FLDG For Happy Lockdown Loan

When the nationwide lockdown was declared, HAPPY became the first responder for MSMEs in the lending industry. Forecasting that the merchants of Kirana, medical store, bank correspondents, restaurants would require a working capital more than ever and the non-essential business-like tours & travels, apparel stores would need cash to support their families and survive during the lockdown, HAPPY led the industry by example and launched a very specific and customer-centric loan for its merchants – HAPPY Lockdown Loan. A unique product bundled with insurance to safeguard the customer, wherein HAPPY would waiver off the entire loan amount to support them in these tough times if the customer is diagnosed with COVID-19 during the loan period.

This loan will be offered to millions of micro-entrepreneurs across India and the insurance will help cover the losses on the loans that arise from customers who contract COVID – 19. HAPPY has the risk appetite to take up to 5% of the losses that would arise from the economic slowdown and we are now seeking help from the extended communities via a crowdfunding platform like MILAAP to cover an additional loss of 1%, which translates to INR 30 Lac on loan disbursement of INR 30 cr.

By raising the credit risk via crowdfunding HAPPY would be able to reach 10,000 micro-entrepreneurs, impacting 2 Mn households through this social initiative.

This crowdfunding would empower HAPPY to support a COVID Warriors’ family whose business is shut at the moment, to protect their businesses from shutting down, and to enable them to survive during these tough times. 

PS: Please check out our crowdfunding campaign "Credit Relief Mission To Save & Protect Your Neighbourhood Shop" on https://milaap.org/fundraisers/happyness

It would take less than two minutes to become a Coronavirus Impact Investor, you become an investor in a shopkeepers life, support their families & save them from going out of business.

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