Cate Havstad-Casad launched Oregon-based Range Revolution four years ago after struggling to find local, sustainably-produced leather for her hat-making business. Range Revolution markets traceable leather from US-based ranches committed to regenerative practices.
Fibers Fund provided a $230,000 flexible line of credit to Range Revolution to cover its purchase orders. The loan is structured so that the company can borrow against the value of its orders and grow its network of suppliers.
“As Range Revolution’s sales grow and they increase the size of their orders over time, they can borrow more funds,” explained Fibers Fund’s Sarah Kelley, “but it keeps them from borrowing more than they have the capacity to repay.”
Range Revolution is the second investment from Fibers Fund, a women-led investment fund that is pushing for more environmentally and socially sustainable textile production. Its first investment was a forgivable loan to Pennsylvania Flax Project, which works with local flax farmers and is building linen processing facilities.
The Colorado-based fund aims to raise $10 million to provide grants and flexible loans to small producers in the US; a portion of its grants are dedicated for Black-led fiber and textile businesses.
Policy whiplash
Fibers Fund’s mission is to revitalize the US fiber and textile industry sustainably and responsibly.
“The chaotic and unpredictable nature of the tariff rollouts is sowing major uncertainty and instability that is making it harder than ever for businesses in the US textile supply web to remain stable,” Kelley told ImpactAlpha.
Small businesses in the sector are also getting hit by funding freezes at the USDA’s Climate Smart Commodities grant program and other supportive programs.
“More than anything, we need intentional, sustained investment into the sector by a range of private investors, backed by stable government support,” Kelley said.
