- Loan Successfully Funded On 11 Jun 2024
Formal employment for home based artisans in Cambodia
Cambodia Knits
- Phnom Penh, Cambodia
Menu
- 33,300 USD
Loan successfully funded
Cambodia Knits is a toy manufacturer, creating delightful eco-conscious products for children and pets. Cambodia Knits is in a strong position to scale with strong demand for current product lines and opportunities to diversify, with a focus on upcycling pre-consumer waste for the pet market. A loan will allow Cambodia Knits to grow production and sales through improved marketing, meaning more resilient artisans with access to social security and improved sustainability in its product range.
- 5 Lenders
Committed
- 12 months
Loan Period
- 10%
Interest Rate
- BACKGROUND
Loan summary
Cambodia Knits is seeking a short term impact loan to prepare them for growth for the upcoming two peak periods – Christmas and the Cambodian tourist season of November 2024 to February 2025.
Existing customers are now placing orders that will double Cambodia Knits’ revenue for 2024 and the impact loan is vital for the purchase of new inventory and to add mid-senior level staff members as part of their growth strategy. Additionally, the revenue boost will allow Cambodia Knits to pass the required threshold required to unlock additional impact investment.
Borrower's mission
Cambodia Knits has trained more than 120 individuals in basic and advanced knitting or crochet skills. Once trained, all participants have the opportunity to produce Cambodia Knits products at piece rates. Knitters and crocheters are provided with all materials and receive a fair piece rate for what they produce. Cambodia Knits regularly visits the communities to collect the products, pay producers and provide support and additional training when necessary.
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
Cambodia Knits measures impact using the following indicators: Social Environmental This loan will enable Cambodia Knits to employ more artisans and improve these metrics further.
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