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A business plan for my Crowd-funding Platform.
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GRAMEEN REACH OUTCrowding in. Singling Out.
The Problem
Financial Inclusion is only undertaken by the large
firms etc. Give access to everybody to participate.
The need to fund basic services, such as education
and vocational training for the development of
people and the country.
To be able to provide working capital for businesses
through the hands of the masses.
State Inclusion in India
The solution
A Crowd Funding platform that is accessible to
anybody in India.
To provide capital either directly to the borrower or
to the borrower through Social enterprises and
Micro-Finance Institutions (Field Partners).
The target sectors: Financial Services, Education,
Vocational training, Agriculture Healthcare, Start up
Businesses, Energy.
Competitive Analysis
Other Crowd Funding Platforms affecting the same
sector in India are Rang de and Milaap.
Rang de works only directly with the borrowers. This
allows them to only access a certain pool of
borrowers and makes the process less efficient.
Milaap works through Microfinance institutions and
charges the MFIs a 8% interest on their loans which
is then given back to the lenders.
How It Works
Lending Process: The loan could be disbursed by
the field partner, before the profile is put up or 90
days after. The loan could be either given to the
borrower indirectly through the field partner or
directly to the borrower.
Repayment Process: The field partners will log in their
books the borrowers that have borrowed with the help of
GRO. They will track the loans and report to GRO
frequently.
At the end of the time given to them, they will pay GRO the total amount of money that is needed. This money will be given to GRO at the end of each month.
GRO will have a system that flags lenders who need to be repaid. The Field Partners will alert GRO if the repayment is not completed.
The field partners will have a certain time period to collect the remaining repayment or entire repayment and then the money given will be repaid. If not the complete amount, it will be repaid proportionately
Funding & Partnerships
Platform Enablers: Amazon or Flipkart.
Potential Funding:
1. Bill and Melinda Gates Foundation,
2. 1 million dollars from Grameen Foundation,
3. Shell Foundation
4. and CSR from companies such as TCS.
Risks and Mitigation
Borrowers Risk: Either the Field partner assesses
the Borrowers or GRO will offer a risk rating manual
for Borrowers.
Filed Partner Risk: Rating system for MFIs and SEs
has been created with Grameen Capital for their
Debt Fund.
A timeline will be created with different stages of
field partners and distinction for High risk, Moderate
risk and low risk loans.
Milestones
As project head, I will have to hire software engineers,
accountant and administrative managers.
December ‘14: Obtain funding or partnership.
December ‘14 to April ‘15: Travel around in India and in
discussions with field partners as well as risk Rating.
Such as Cashpor in Varanasi, Ujjivan in Banglore.
April ‘15: Opening of Website and start of GRO Crowd
Funding Platform.
December ‘15: Disbursed 3500 loans through GRO.
Thank you