BANGS Shoes: Your adventure helps others fund theirs
Thursday, November 17, 2016
BANGS Shoes is a grassroots start-up that sells fun, funky canvas rubber-soled shoes that give back without giveaways. Our model is built to invest 20% of net profits in helping people start businesses. Helping people start a business is awesome because... You're teaching a man to fish vs. giving a man a fish. You're helping people help themselves, and... You're impacting sustainable change. Every month, we hand-select entrepreneurs to invest in their business ideas. All entrepreneurs are vetted and the loan dissemination and repayment is facilitated by our nonprofit partner, Kiva. Each entrepreneur builds their business and then repays their loan. 99% of loans given through our nonprofit partner are repaid. This high repayment rate indicates an extremely high rate of successfully growing businesses. Helping someone start a business allows them to be in control of their own development. PLUS, when a loan is repaid, we do not take the money back, but re-invest that SAME loan with a new, different entrepreneur. This means that over time, one loan could cycle through innumerable entrepreneurs, growing many, many businesses. To date, your adventures have helped invest in 151 entrepreneurs in 43 countries including the USA. Over the course of our journey, we hope to build BANGS to a $10 million company, investing $2million per year into KIVA and helping 80,000 entrepreneurs. #livebangs
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