Total loan: $50,000
Toronto, RI, Canada / Health
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A loan helped to provide low-income amputees in the developing world with access to high-quality prosthetics.
Problem Millions of amputees around the world lack access to adequate prosthetics. This restricts amputees’ independence, employment potential, and school attendance. The WHO estimates 90% of amputees in the developing world do not have access to a prosthetic device. In the developed world, strained healthcare budgets are pressuring governments to decrease costs, and most amputees do not have adequate insurance to cover a high mobility device. Solution LegWorks designs and manufactures technologies that are accessible to amputees around the world. LegWorks aim is to revolutionize the provision of high-quality prosthetics to all amputees, no matter where they live and no matter what their ability to pay. They do this by designing high-quality prosthetic devices that rehabilitate an amputee but can be manufactured affordably. LegWorks then sell their products using a tiered pricing structure, designed to ensure as many patients as possible get access to their products. In countries with healthcare infrastructure, they make sure their products are covered by insurance schemes. In developing countries with no insurance coverage in place, they sell to humanitarian providers fitting low-income patients for free at a price that fits within their budgets. Loan Use LegWorks needs working capital to fund inventory of their products. This loan will help LegWorks to pay the up-front cost for a large manufacturing run.