ImpactAlpha, September 23 – Ananas Anam, a woman-led enterprise in the Philippines, buys pineapple leaf waste from farmers and converts it into a textile called pinatex that can be used as a leather substitute. The company’s purchases of agricultural waste boost incomes for smallholder farmers.
A loan from Beneficial Returns will enable the company to install processing equipment in local farming communities.
Beneficial Returns has loaned $2 million to social enterprises with terms that eliminate the final loan payment if impact targets are met. The impact investor has extended such terms to Indonesia’s Nazava, Guatemala’s Ecofiltro, U.S.-based Interrupcion Fair Trade, and Mexico’s Iluméxico and Sistema Biobolsa. It has also provided emergency COVID loans to Limited Resource Teacher Training, Pollinate Group and iKure.