- Loan Successfully Funded On 16 Dec 2022
Accelerating the Improvement of Waste Management in Tanzania
Tanwaste
- Kahama, Lakes Region, Tanzania
Menu
- 25,000 USD
Loan successfully funded
To address the public health challenge of waste management in Tanzania, Tanwaste commenced providing quality waste services to the people of the Lake Zone Tanzania in July 2022. In doing so, they are creating safe and sustainable livelihoods for Tanzanians and healthier, safer environments for the communities where they operate. Tanwaste needs a second impact loan to acquire additional plant and equipment and employ more team members to meet private demand and accelerate their growth.
- 4 Lenders
Committed
- 24 months
Loan Period
- 10%
Interest Rate
- BACKGROUND
Loan summary
The Kahama project (initiated in July 2022 with the capital from Tanwaste’s first LendForGood impact loan) has given us great exposure to the region and we are beginning to get calls for private contracts. These private contracts will accelerate our financial sustainability as they provide more margin and faster cash flow cycles. This second impact loan will give us the working capital and a new truck to do the private jobs.
Borrower's mission
We are aiming for financial sustainability, which we are on the pathway towards. The private contracts business will create 3-5 new full time positions, and give us the money to reach sustainability quicker.
The activities funded by this loan are helping to achieve the above Sustainable Development Goals as defined by the UN.
Intermediary's experience with impact enterprises
For more than 8 years, Red Hat Impact has helped impact enterprises by raising capital and providing other kinds of business and strategy support. We have raised more than $3M from our network of impact investors, and loaned this capital to support 30 enterprises. We use a crowd-lending model to raise loan capital. As of May 2024, we maintain a 98% success rate on loan repayment. We establish close working relationships with all of the impact enterprises we raise debt capital for, and co-manage risks with them during the loan term.
- IMPACT
Impacts and how they are measured
First and foremost, we are providing a needed utility. We are also employing close to 30 people, with that number likely to grow monthly. We are removing 30 tons of waste from people’s lives PER DAY, and that number will only continue to go up.
Ready to lend?
This loan is not currently accepting subscriptions, but we invite you to check out some of the other live loans on the platform. In order to participate in loans you must be a registered lender on the LendForGood platform. If this is your first time lending with us we’ll guide you through the process to first get registered. Thank you for lending your passion!