Morethanshelters
Loan
Morethanshelters is a social enterprise that develops innovative architectural and social design concepts for refugees to improve their living conditions in refugee camps.
Profit-participating debt to finance the production of first refugee tents (DOMOs) and to cover working capital requirements.
Morethanshelters is set up as a social enterprise which develops and markets innovative architectural and social design solutions for refugees (with their participation) to improve their living conditions in refugee camps. All products are adapted to international humanitarian standards.
Today, Morethanshelters has developed two products: (a) DOMO, a ground-breaking housing solution for refugees which is more flexible and durable than existing products, and (b) a consulting agency (Innovation and Planning Agency (IPA)) that helps to integrate further products/services such as ICT, solar power, and education.
Summary
There are estimated to be 45 million refugees in the world today. The average lifespan of a refugee camp is today close to 20 years, the length of stay 12 years. Recent statistics indicate that slums are growing worldwide every day by 180,000 people. The United Nations predict that in 2050 there will be 3 billion people living in slums, informal settlements and camps. If we all want to live on a healthy and prosperous planet, we cannot let millions of lives been wasted.
The living conditions in these camps are miserable - poor living conditions in temporary (and often illegal) settlements which are unhealthy and dangerous.
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Typical humanitarian solutions tend to be short-term, out-dated and are now reaching breaking point. With its deep knowledge of working in the field, Morethanshelters seeks to re-design and re-imagine humanitarian aid for refugees by building new products that actually meet their needs. Morethanshelters operates to a high international standard, and collaborates with well-known companies such as Globetrotter/Nordisk (for production of DOMO tents) and UNHCR.
DOMO, the modular housing solution is much better adapted to cultural needs with modifiable floor plans, and much more durable than the 6 months of durability of traditional tents. With this, refugees do not have to sort their homes twice a year as DOMO bearing structure lasts up to 7-10 years, its outer cover 1-2 years. This will also save up to 50% of total expenses for housing over a 7-year period. DOMO will be sold to humanitarian aid organisations, as well as to event organisers in the west (the latter to raise awareness of the cause and cross-subsidise Morethanshelters).
Social Impact
- Provision of dignified living conditions for refugees
- Estimated to sell 3,000 DOMO tents by the end of 2017, which will provide more than 17,000 homes for refugees
- 100,000 refugees living in Za’atari camp in Jordan will benefit from innovative services of IPA. Services such as solar-power, ICT, online education, vegetable gardens are in the pipeline. In future, it is expected that these products will be replicated in other refugee camps.
Financials
- Fundraising EUR 400,000 in profit-participating debt
- Fixed interest rate of 3%, plus 0.05% profit-participation per EUR 1,000 (cap at 10% interest in total)
- Duration of 8 years (+2)
- Funds will be used for the production of DOMO and working capital requirements, break-even shall be reached in 1Q 2016. IPA is more early stage and will be funded independently.
