Serving up 'lunch bonds' to feed Kiwi kids
In what's being considered a New Zealand first, a company that donates a school lunch for every one that you buy has launched a crowdfunding campaign.
Eat My Lunch was founded by Lisa King and is a social enterprise that helps feed Kiwi kids. In just 12 months, it has made 325,000 lunches, gifted 180,000 and exceeded its three-year forecasts in the first three months.
Based in Auckland, the company now wants to expand to Wellington and then go nationwide.
"We need money to grow to do more good," says Ms King.
So the company has decided to issue 'Lunch Bonds' via the crowdfunding site PledgeMe to try and raise $1 million.
Investors can choose between two five-year bonds, with a minimum investment of $1,000.
Option one pays 6 percent in interest over five years, and for every $1000 invested, Eat My Lunch will give one additional lunch a month.
Option two pays zero interest, but the company will give two lunches a month for every $1,000 invested.
Last year Eat My Lunch raised $130,000 via PledgeMe to set up a commercial kitchen.
"We believe this is the future of the financial markets -- not only being able to raise money to grow, but to grow the wealth of your local community when you pay that money back," says PledgeMe CEO Anna Guenther.
"No longer are decisions in the hands of banks and a select few. Crowdlending will democratise debt."
Investors' funds are unsecured, which means repayment is not guaranteed.
(Eat My Lunch / YouTube)