Fair Anita
(PRI #2)
Fair Anita is a social business all about empowering talented yet marginalized women from around the world through dignified jobs and fair trade relationships. The company partners with over 8,000 women artisans to design and create stylish, ethical, and affordable products. The company then sells those products via its website, pop-up shops, and 1,600 retail partners in the US and Canada. Incorporated in 2015, Fair Anita has grown to over $800,000 in sales.
In addition to helping Fair Anita buy more inventory from its partners at fair prices and continue paying its partners 50-100% up-front, Venn's new PRI will also help Fair Anita make a number of long-term capital investments that can help the company grow from $1M to $10M in sales. These include launching a full-service ERP system and hiring a full-time operations director.
Recipient Name: Fair Anita
Corporate Form: Specific Benefit Corporation
Entrepreneur: Joy McBrien, Founder & CEO
Target Investment Amount: $60,000 - $250,000
Raised to Date: $245,112
Overview of Investment Terms:
Unsecured loan
Years 1-4: Annual interest-only payments; simple interest rate of 3%.
Principal to be repaid in two payments at end of Year 4.
8-year warrant for 15% of PRI principal.
Joy McBrien (right) with Anita (left)