Rags2Riches, Inc

With EUR 9,600 Therese is able produce more eco-friendly rags and bags from scrap materials of the dumpsite.

funding gap emerging markets
NPFC
Azienda
Filippine
Paese

Il progetto

Payatas in Quezon City is distinguished by its dumpsite, which serves as the largest open dumpsite in the Philippines. Those who belong in the very poor families resides in this place where scavenging is the primary source of income.

A private corporation together with influential Filipino and international designers made a collaboration to uplift the lives of the people living there. In 2007, “Rags2Riches, Inc.” (R2R)who was founded by its President, Therese Fernandez from Greenhills, Quezon City had thought to use eco-ethical materials like upcycled scrap cloth and fabric, organic materials, and indigenious fabrics coming from the dumpsite of Payatas. People hired to do such products are from Payatas who are trained to be artisans for R2R, and are also given financial and health trainings in order for them to utilize their personal potential.

R2R serves as an informal cottage industry of rug weavers trained by them. Their product focuses in fashion handbags and home accessories. And as today, they have a total of 200 workers, 81% of which are women and 19% are men.

To continuously serve the poor families of Payatas, R2R needs working capital to be used in production, purchase of scrap fabrics, and labor. 

NPFC

AMMINISTRATORE DELEGATO
Therese Fernandez
Fondato
2007-01-01
Posizione
Quezon City
Settore
Produzione
Fatturato
€196,598.79
I dipendenti
200
€9,600sollevato
Completamente finanziato in 18 ore su 19 Maggio 2016.
20investitori
Investire nella microfinanza
€9,600
obiettivo
3.0
%
Interesse
12
mesi
Maturità
6
mesi
Rimborsi
A
B
C
D
E
Punteggio di credito

Impatto

2
Posti di lavoro creati
8
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