Accessible Credit for Financial Resilience
In India’s remote Northeast, millions of tribal and low-income families remain cut off from formal financial systems. Without access to banks or affordable credit, they are often forced to rely on informal moneylenders who charge exorbitant interest — trapping families in debt and deepening poverty.
To tackle this issue, Earth Company provided a grant to one of Impact Hero 2024 cohort members, Lian Thangvung, founder of QONECT, to launch a pioneering microcredit initiative for underserved families in Manipur and neighboring states. With a grant of US$3,000 (₹250,000), the project provides small, low-interest loans and micro-insurance packages to first-time borrowers who previously had no access to formal finance.
Operating in conflict-affected and rural regions, the program combines financial inclusion, livelihood support, and risk protection, offering a dignified pathway out of economic vulnerability. Through a revolving fund model, every repayment fuels new loans — creating a sustainable, community-based cycle of opportunity and empowerment.
At a Glance
Lian Thangvung, a compassionate leader with a decade of medical billing expertise, transforms tragedy into a mission. Fueled by the loss of his father to cancer, Lian pioneers a social impact Start-Up, driven by empathy and a deep understanding of healthcare struggles. Having witnessed the barriers to medical access for low-income Indians, he tackles the issue head-on.
Through his initiative, QONECT, Lian provides same-day small loans for medical expenses to those living on less than $4 a day. With a vision to reach 200,000 impoverished individuals by 2030, Lian breaks down financial constraints, ensuring everyone, regardless of economic status, receives timely, quality medical care. His commitment aims to reshape India’s healthcare landscape, addressing the disparity in insurance coverage and high medical expenses.
Unlocking Access to Affordable Credit
Over the first three months, QONECT disbursed ₹3,45,000 in livelihood and medical loans to 18 borrowers, including vegetable sellers, tea vendors, small farmers, and used-clothes traders. Loan sizes ranged from ₹5,000 to ₹50,000, averaging ₹19,000, at a modest 2% interest rate — a fraction of what informal lenders charge. As borrowers repay monthly EMIs, the fund continues to revolve, projected to reach ₹6,75,000 in loans across 45 borrowers within a year.
For most participants, this was their first-ever formal loan, marking their entry into the financial system. Each borrower is also enrolled in micro-insurance coverage (₹60,000 Hospicash + ₹1,00,000 Accident Cover), ensuring that families have both credit access and protection in times of crisis. Through this pilot, QONECT demonstrated how even small amounts of risk capital can deliver outsized social and financial impact in underserved communities.
Restoring Dignity and Confidence
Beyond financial assistance, the project has restored dignity and agency to families who were once invisible to formal institutions. Borrowers have used their loans to expand roadside stalls, purchase farm tools, pay medical bills, and stabilize household income.
For instance, Kimberly, a used-clothes seller from Salem Veng, grew her business and now supports her family with steady earnings. Thangtinsei, from Bualkot, was able to bring his sick son for medical treatment — a journey that would have been impossible without this support. In another case, Sutminlun, from conflict-affected S. Kawtlian village, received a small emergency loan that enabled him to take his relative to Aizawl for urgent care when access to local hospitals was cut off.
Stories like these are spreading across villages, inspiring hope and trust in fair, community-based finance. With Earth Company’s support, QONECT is not only creating access to credit but also planting the seeds of long-term financial inclusion and resilience for families in Northeast India.
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