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Kyle

Indosole, LLC

San Francisco, CA

[Image]
2nd loan
Personal Story

I grew up in New Hampshire USA and attended Proctor Academy prep school (high school) and graduated with a BS in Marketing from the University of New Hampshire. I was also an avid athlete in competitive soccer, ice hockey, and baseball.

Through my college years, I had a keen eye for fashion and apparel and enjoyed reading magazines to follow these trends. Additionally, I developed an interest in recycling and environmental issues and spent a summer in Nantucket working at a recycling facility.

In 2001, I had an internship at New Balance athletic shoe Co. in Boston, MA. At this point, I learned about the footwear industry and corporate development

Later, I moved to California and spent 5 years in fashion, athletic, and apparel sales. During that time, I took an influential trip to Bali, Indonesia and at that time the concept for Indosole was born. After some thought, I quit my sales job to pursue making Indosole a reality.

Myself and business partner Faye have invested our personal money and time into the creation of Indosole. Now, Indosole has been distributing its footwear products for over 2 years.

I currently manage the general operations for Indosole and handle sales, marketing, finance, and fund raising. Meanwhile, the company is growing and I am working to prepare the business for the next frontier.

Personal Update - Aug 15, 2013

Since my first Kiva loan, our business has nearly doubled in revenue and productivity. By receiving more capital from Kiva we were able to produce more inventory and thus grow sales.

Business Description

Indosole is a young company based out of California, USA with manufacturing and office in Bali, Indonesia.

The business began as a hobby and the idea was created by Kyle Parsons and Faye Middleton upon a trip to Bali, Indonesia. It all started when Kyle found a unique pair of sandals in a local shop. Then, Faye and Kyle began an adventure in search of a manufacture to replicate and refine sandals made of natural materials and motorbike tires as soles. After some searching, they sourced a suitable manufacturer and began development.

After multiple trips to Bali and financial sacrificies by Kyle and Faye, they were able to refine the sandals to a point where they could appeal and sell to the worldwide market. In 2010, Indosole became a reality and was launched as a business and full time job for Kyle and Faye.

Indosole is on a mission to save 1 million tires from landfills and give them new life as footwear. Today, Indosole has saved 8000+ tires from landfill and sold approx. 16,000 pair of shoes/sandals.

Currently, the company is experiencing growth and the product is in demand. The challenge Kyle and Faye face is having a sufficient amount of capital to stay ahead of production schedules as product sells through and more footwear needs to be produced to seize the opportunities presented.

Kyle and Faye are proud of what they have created, also proud of saving 8000+ tires and giving jobs to 40+ Balinese artisans.

The goal for Indosole is to grow into a large company and continue to sell their product, save tires, and provide jobs for local artisans.

Business Update - Aug 15, 2013

Since my first Kiva loan, our business has nearly doubled in revenue and productivity. By receiving more capital from Kiva Zip we were able to produce more inventory and thus grow sales.

Additionally, by growing our business, we have become more attractive to the consumer marketplace and also investors who share our passion and see great potential in our brand and product.

What did you use your last loan for?

The last loan was used to produce more inventory which led to more sales. Additionally, we invested a portion into our manufacturing facility and allowed them to purchase new equipment and make some technological advances.

What is the purpose of this loan?

The loan will be used for:
-Inventory - Production of sandals, shoes, and apparel ($7500)
-Further advancements to the manufacturing facility ($2500)

Increasing our production level will lead to increase sales volume and revenue at the company's bottom line. Additionally, increasing our manufacturing ability in Indonesia will increase productivity at that level and will make our factory workers jobs easier.

The impact of this loan on my life will be very positive as it will provide further ability for mysef and team to sell the product we believe in and also make my co-workers and partners happy and able to do their jobs.

Kyle's loan is endorsed by Justin Curzi. The information below explains why his trustee thinks Kyle is a great candidate for a Kiva Zip loan.

Endorsement for this loan

How has the borrower's personal life and business changed since receiving a Kiva Zip loan?

They have been able to order more product and increase visibility with their brand (www.indosole.com)

Furthermore, from a environmental standpoint, they've been able to save more motorbike tires from the dumps to make sandals, and offer employment to both individuals and SMBs in a developing country like Indonesia.

Why are you recommending this borrower for another loan?

Because they have not reached a threshold of demand for their product. The only thing stopping them is cash and the making of their sandals. The last loan repayment went off without a hitch, and I expect the same of this loan.

Original endorsement - Jun 22, 2012

How long have you known this person?

3 years - 5 years

Tell us about your relationship with this borrower.

I met Kyle initially while living in San Francisco, and through the years we've become good friends as well as a good sounding board for business ideas. He's an acquaintance of mine whom I trust.

Tell us about this borrower's personality and character, and why you are endorsing him or her for a Kiva Zip loan.

I've always found with business that the best attribute one person can have is to tell you all the "bad" things that go along with all the good. Everyone knows businesses have their growing pains when you're starting. Kyle has never been anything but absolutely honest and fair with me when describing his business. On a social side, he has always followed through with what he said he was going to do, he never misses a deadline, and he's been striving with his business for some time and making it work in a meaningful and admirable way.

Tell us about this borrower's business, and why you believe a Kiva Zip loan will contribute to his or her success.

Kyle started a business www.indosole.com based in the US, but where they go to landfills in Indonesia and repurpose old motorbike tires into the soles of sandals! Everything is built by hand by a sustainable factory in Indonesia. It's a very small operation, but Kyle's making it work. In the US, Kyle drives all over creation showing his shoes to small shops, buyers, conventions, or just about anyone who will listen to his pitch. The sandals are not only very cool, but more importantly, he's helping to salvage tires which otherwise will sit in a landfill and pollute the planet. It's a very small operation, but he's passionate about it and he's moving it forward!

I know a Kiva loan will help his business because he needs capital to make more sandals. Kyle does not have a problem selling sandals, because he's so sincere and passionate about what he does. He has always sold his stock in the past. What he needs is capital to make the actual sandals. I have little doubt that repayment will be an issue with Kyle, because of the livelihood of the business.

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PAYING BACK

A loan of $10,000 helps me to purchase inventory and equipment for my manufacturing facility.

Disbursed Oct 5, 2013
Repayment Term:
36 monthly payments
Grace Period:
N/A
Listed:
Aug 21, 2013
Disbursed:
Oct 5, 2013
Paying Back:
Oct 6, 2013

About Indosole, LLC

Industry:
Clothing / Jewelry / Accessories
Years in Operation:
3 years - 5 years
Website:
indosole.com
Follow:
Facebook Twitter Linkedin
Badges:
Badge_repayment_gold_smallBadge_connectedness_bronze_small

Previous Loans

[Image]
Amount
$5,000
Paid Back
Mar 23, 2013

What are Borrower Badges?

Borrower Badges are a system designed to recognize and reward borrowers’ engagement with the Kiva Zip website.

There are two types of badges that are tiered like medals: Gold, Silver and Bronze.

  1. 'Repayment badges' are awarded for the on-time repayment of loans.
  2. 'Connectedness badges' are awarded for engagement with the Kiva Zip website.

This loan is endorsed by

Trustee Type:
Individual
Location:
Portland, OR
Badges:
Badge_repayment_silver_small
On Zip Since:
Jun 22, 2012
(22 months)
Loans Endorsed:
3
Total Value:
$20,000
Fundraising/Raised:
1
Paying on Time:
Not enough data
Paying Back Late:
Not enough data
Repaid in Full:
Not enough data
Defaulted:
Not enough data
Repayment Rate:
100%
Why are you endorsing Kyle?

Because they have not reached a threshold of demand for their product. The only thing stopping them is cash and the making of their sandals. The last loan repayment went off without a hitch, and I expect the same of this loan.

What are Trustee Badges?

Trustee Badges are a system designed to recognize and reward trustees’ engagement with the Kiva Zip website.

There are two types of badges that are tiered like medals: Gold, Silver and Bronze.

  1. 'Repayment badges' are awarded for the on-time repayment of loans.
  2. 'Connectedness badges' are awarded for engagement with the Kiva Zip website.
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