You give 2, Sitawi lends 20, we change 2,000 lives

 
£28,295
£2,712
Raised
Remaining

Summary

Sitawi is committed to protecting the environment and changing the lives of the most vulnerable people in Brazil.Whether it's creating wickerwork and income for artisans, computer skills for at-risk kids, teaching business courses for Afro-Brazilian micro-entrepreneurs or supporting sustainable recycling projects, we help bring long-lasting change to Brazil.For every $1 donated, our nonprofit fund will lend $10 to ethical, high-quality social enterprises, multiplying the impact of your donation.

What is the issue, problem, or challenge?

Brazil is in the headlines for its economic growth, but it's still one of the ten most unequal countries on earth: only 17% of the rural population has basic sanitation, 26 million people (1 in 7) live below the poverty line and thousands of species are extinct every year. Social enterprises fight these problems, but even if they have a good project, they lack access to capital. Traditional banks offer loans with interest rates of up to 50% and foundation grants are small and restricted

How will this project solve this problem?

We screen ethical, high-social-impact organizations with a business engine, and provide loans at low interest rates. A partner fulfilled an order of recycled bags, creating work for 300 artisans.Another, kept a community canteen for 3150 people afloat when government delayed payment.At Sitawi, once a loan is repaid, we lend to another organization, multiplying the social impact of donations.Since 2009, we have multiplied the impact of our capital 3x, reached 11,000 people and suffered no default

Potential Long Term Impact

Beyond sitawi, we will push banks to change their view of what is needed to lend to social enterprises (just as what happened in microcredit). If we are successful, social enterprises

Funding Information

Total Funding Received to Date: £28,295
Remaining Goal to be Funded: £2,712
Total Funding Goal: £31,007

Additional Documentation

This project has provided additional documentation in a PDF file (projdoc.pdf).

Resources

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Organization

sitawi

Rio de Janeiro, RJ, Brazil
http://www.sitawi.net/

Project Leader

sitawi .

Rio de Janeiro, RJ Brazil

Where is this project located?

Map of You give 2, Sitawi lends 20, we change 2,000 lives
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