A majority of Indonesians get their drinking water from wells that are overwhelmingly contaminated. This situation has led to dire health outcomes in Indonesia where 15,000 children under the age of 5 die each year from diarrhea. It is also financially burdensome for the 8 million Javanese who earn less than USD $1.90/day and who resort to either buying bottled water or boiling well water. Beneficial Returns extended its first loan in Southeast Asia to Nazava, a social enterprise addressing this situation. Based in Bandung, Indonesia, Nazava produces affordable household water filters that are good for the environment, good for public health, and good for the pocketbook too.
With its filter, Nazava is able to provide an affordable clean water solution saving households USD $35/year compared to boiling water and USD $62/ year compared to purchasing bottled water. Since the business started in 2007, Nazava has saved its customers more than USD $14.5M. Other positive outcomes include:
Beneficial Returns extended a four-year loan to Nazava a four-year loan to finance the enterprise's growth. Continuing its track record of linking its financial terms to borrower impact, Beneficial Returns will waive the final monthly loan payment to Nazava if it sells more than 300,000 filters by loan maturity in 2023. The loan was also supported with a partial, philanthropic guaranty from a mentor and supporter of the Global Social Business Institute (GSBI) at Santa Clara University.
In Southeast Asia 15% of the population still lives on less than USD $1.90 a day while the region also has the highest rate of tropical deforestation and the most pollution from plastics. Social enterprises are a powerful antidote to these problems and at Beneficial Returns we are committed to supporting their growth.