The Rotary Club of Whyte Avenue helped support a loan of $100,000 through KIVA to Indosole, which will help to recycle tires, create jobs, and make 20,000 pairs of shoes in Indonesia. This loan is special because it achieves both socioeconomic and environmental impact through an innovative business model.
The Rotary Club of Whyte Avenue is supporting local economies by strengthening local entrepreneurs and community leaders in impoverished communities by providing microloans through kiva.org. This includes Rotary Whyte Avenue's support for Indosole.
Indosole's Story
The Problem
Each year, over 1.5 billion waste tires are discarded into landfills worldwide. These tires are a major environmental problem and can start large fires that are hard to extinguish, and are a breeding ground for diseases such as Malaria and Dengue Fever.
The Solution
Indosole, a certified B Corp enterprise, started in 2009 when founder Kyle was surfing in Bali and bore witness to the ubiquitous waste issues plaguing the archipelago. Indosole is on a mission to reduce a worldwide waste tire problem by upcycling & recycling tires into soles of footwear, while providing fair employment to Indonesian artisans.
Impact
Indosole has prevented over 80,000 waste tires from ending up in landfills in Indonesia. They also provide jobs to 40+ Indonesian craftspeople and in-house staff in the USA.
Loan Use
Indosole is in a growth pattern in its 9 year old business. The company is raising funds to run larger, higher quality production runs to feed the demand.
The Rotary Club of Edmonton Whyte Avenue, as one of the lenders, helped support this loan to Indosole so that they can:
-Manufacture footwear for the spring/summer 2019 season
-Provide upgrades to its manufacturing facility
- Continue Educational programs about recycling, upcycling, and minimal living
Each year, over 1.5 billion waste tires are discarded into landfills worldwide. These tires are a major environmental problem and can start large fires that are hard to extinguish, and are a breeding ground for diseases such as Malaria and Dengue Fever.
The Solution
Indosole, a certified B Corp enterprise, started in 2009 when founder Kyle was surfing in Bali and bore witness to the ubiquitous waste issues plaguing the archipelago. Indosole is on a mission to reduce a worldwide waste tire problem by upcycling & recycling tires into soles of footwear, while providing fair employment to Indonesian artisans.
Impact
Indosole has prevented over 80,000 waste tires from ending up in landfills in Indonesia. They also provide jobs to 40+ Indonesian craftspeople and in-house staff in the USA.
Loan Use
Indosole is in a growth pattern in its 9 year old business. The company is raising funds to run larger, higher quality production runs to feed the demand.
The Rotary Club of Edmonton Whyte Avenue, as one of the lenders, helped support this loan to Indosole so that they can:
-Manufacture footwear for the spring/summer 2019 season
-Provide upgrades to its manufacturing facility
- Continue Educational programs about recycling, upcycling, and minimal living
To learn more about the loan, check out: https://www.kiva.org/lend/1659603