GUWAHATI, Oct 25: In Assam, where economic challenges often hinder the growth of small businesses, a new social enterprise, Jana Samriddhi (Jono Homriddhi), is making waves by offering hope and opportunity to struggling entrepreneurs. Founded by two high school students, Mayukh Baruah and Rafael Dhaul, Jono Homriddhi is committed to helping self-employed individuals and small business owners rise above economic hardships. The enterprise empowers these individuals through innovative, sustainable micro-loans and comprehensive support, creating a ripple effect of prosperity across Assam and beyond.
While Mayukh hails from Guwahati, Rafael Dhaul is from Mumbai. Both are Class 12 students of Jayshree Periwal International School, Jaipur.
At the heart of Jana Samriddhi’s mission is an inclusive and compassionate microfinance model. While traditional microfinance institutions often charge high interest rates and prioritize profits over social good, Jono Homriddhi does the opposite. It offers low-interest loans — capped at 7% — to people who typically have no access to formal credit because they lack collateral. The founders believe that poverty is not just a lack of resources but also a poverty of aspiration. Through Jana Samriddhi, they aim to restore hope and dignity to those who are overlooked by the conventional financial system.
Within its first six months of operation, Jana Samriddhi has already made a significant impact. The organization has raised around $5,000 in startup capital and has successfully distributed loans to over 1,000 self-employed individuals and small business owners in Assam and Karnataka. These loans have provided much-needed financial relief to people like Mamta, a single mother raising two children in Kaziranga, who received a loan to start her vegetable store, and Putul, a rural labourer who used a micro-loan of 2,000 rupees to pay his child’s overdue school fees.
Another success story is Rupa, a young woman from Jagiroad, who obtained a loan of Rs 6,000 to buy a second-hand sewing machine, enabling her to become a self-employed entrepreneur and support her family.
The enterprise’s impact goes beyond simply providing financial assistance. In collaboration with the Theta Foundation for Development, a social development NGO, Jono Homriddhi offers financial literacy and training programs to help its beneficiaries better manage their finances. Over 10,000 participants have already benefited from workshops on budgeting, financial planning, and business management. These programmes equip people with the tools they need not just to survive but to thrive in an increasingly competitive marketplace.
Theta Foundation’s founder praised the initiative, stating, “We are glad to partner with Jana Samriddhi. Their approach of combining micro-lending with financial education and mentorship is truly innovative and essential for inclusive growth. Together, we have empowered over 100 individuals in the first month and the number of enrollment is only increasing for future workshops. We see a bright future ahead for this partnership.”
Jana Samriddhi’s model focuses on long-term success by not only providing financial resources but also by fostering a community of mutual support and learning. The enterprise’s workshops, mentoring sessions, and networking opportunities ensure that recipients are equipped with the knowledge and confidence to grow their businesses sustainably. Lenders, too, are drawn to the enterprise for its ethical model, receiving Corporate Social Responsibility (CSR) certificates for their contributions, which bolsters their brand image and aligns them with social good.
