BIG NEWS: We launched a Kiva loan and we need your help! For those who are not yet acquainted with Kiva, they are an incredible organization that facilitates crowdfunding for individuals and groups around the world who need a little boost to propel their businesses forward.
How Kiva loans work
A Kiva loan is a crowd-sourced loan that has the ability to keep on giving. By contributing a multiple of $25, you can help fund a loan that will get repaid according to a predetermined schedule. Once fully repaid you can pull the money out or use it to fund another borrower.
For example, if you lend $25 to a shopkeeper in Cambodia, once she has repaid it you can use the same $25 to fund a group of seamstresses in Ethiopia, and then a farmer in Tajikistan, and so on.
Although we are in the borrower's position with this loan ask, within the Indo crew we actually have Kiva lenders too:
"I find it gratifying to see my $25 recycled over and over again by people around the world. For over six years that loan has kept on providing opportunities. It's a really cool thing to see. I also like the fact that it's a loan, not a donation." ~Mutia
Through Kiva, individuals around the world are able to contribute micro loans that, once added up, help fuel the dreams of entrepreneurs. And now you can join current Kiva lenders in supporting our goal of repurposing waste and promoting conscious consumerism!
Our plans for the loan
We are looking to get a loan of $30,000 funded to help purchase raw materials, upgrade our factory, and meet growing demand. This is a 0% interest loan with a 20 month payback period that would be so beneficial to our operations.
We have learned that funding the growth of a product-based company is a huge challenge, especially having to order product from the manufacturer far ahead of time. Kiva has been an amazing resource for us and has provided access to capital through crowd-sourced loans. Our previous Kiva loans of $5,000 and $10,000 were successfully repaid in full and on time.
According to Kiva staff, our loan is special because "it achieves both socioeconomic and environmental impact through an innovative business model."
As a certified B Corp enterprise, we are on a mission to reduce waste by upcycling and recycling tires into the soles of footwear while providing fair employment to Indonesian artisans. To learn more about our story and our plans, please take a look at our profile on Kiva.
Supporting repurposing is easy
All you have to do is sign up to be a Kiva lender, contribute a micro loan, and spread the word! Our loan will not be granted unless we reach $30,000, so please consider helping us if you believe in the recycling and repurposing movement. Your support means the world to us! Only 27 days left.
Photo by @lenyaalecbass