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Total loan: $29,375
Kigali, Kigali, Rwanda / Manufacturing
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Illumine's loan finished fundraising,
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A loan helped to purchase raw materials for her newly established factory.
Illumine is an incredibly skilled and professional entrepreneur who runs a manufacturing company in Rwanda that produces polypropylene bags. Illumine's company, Polybags Rwanda, is one of the country's largest producers of these woven sacks. Due to their strength, flexibility, durability and lower cost, polypropylene bags are the most popular products in industrial packaging, which are widely used in packing grain, feeds, fertilizer, seeds, powders, sugar, salt, and other bulk commodities. Illumine and her 23 employees have a 20% market share in Rwanda, and a very strong competitive advantage. Their factory has new, highly technical machinery which enables fast and quality production. They also have more than 10 long-term contracts with bulk buyers in the region. Illumine recently built a second factory location to increase production capacity to grow even more. In order to do so, Illumine needs a short-term loan for working capital so that she can purchase raw materials for her new location. This loan will not only help Illumine to grow her business, but it will also enable Illumine to hire 10 new permanent employees.