A total of $900,000 is now financed for the procurement of 21 motor vehicles enabling over 330,000 of the most impoverished people around the world to be reached.
The two organizations pioneered this arrangement over three years ago and together have proven it a successful model for building sustainable working capital within a non-profit by using a for-profit solution.
Phoenix, Arizona & Austin, Texas – March 3, 2015 – Global services and solutions provider, Vestment Global Services (VGS) is proud to announce the close of a third tranche of investment funding to be used for motor vehicle financing by Food for the Hungry (FH) fh.org. Funds will purchase additional motor vehicles bringing the cumulative amount financed to $900,000 USD and the number of vehicles to twenty-one. These vehicles located in over ten different countries across several continents are vital for FH staff to serve some of the most remote, hardest to reach and impoverished communities.
VGS and FH have a long relationship of innovation and success. Four years ago the two organizations teamed to determine how a “for-profit” company could solve a critical issue inside a “non-profit”. Despite healthy flow of donations, the major issue was a lack of working capital to purchase new vehicles that would greatly improve the reach and safety of field staff and reduce total cost of ownership. VGS crafted an investment for individuals who wanted their money to be used to make an impact while also yielding a return. Each vehicle is critical to the FH mission, being used extensively in helping field staff reach a staggering number of people (16,000 on average) across long distances and often harsh terrain.
VGS has leveraged its networks to secure investment capital to provide successive tranches of funding to FH starting with the first in 2012. The purpose of funding is to enable FH to renew and expand its sizable motor vehicle fleet in order to provide safe and reliable vehicles for its staff and to reduce the overall cost of vehicles. Furthermore, FH can build up its own self-sustaining fund of capital for future vehicle replacements.
“We began VGS with a vision to touch 10 million lives through solutions such as global vehicle financing”, said Peter Mawditt, Co-Founder of VGS. “FH’s successful and impactful programs have greatly increased the people and communities reached with each of these new vehicles. My Co-Founder, our investors, and I are very excited to have been part of an impact investing solution that is now touching over 330,000 lives in communities across the globe.”
Greg Vestri, VGS Co-Founder added, “Innovating with FH has been invigorating since the start. They have a heart to serve as a catalyst for solutions that can be shared and scaled across the entire non-profit sector and ultimately for the good of all those served.”
If you are interested in receiving updates about this initiative, please visit vestmentgs.com.
About Vestment Global Services
The VGS team has more than 50 years of active, global management experience in start-up, scale-up, transitional leadership, change management, project management, organization design and operations management across technology, banking, management consulting and relief & development sectors. VGS works with innovative companies, Non-profits and individuals [PM2] to integrate purpose with profit. VGS specializes in strategic advisory services to equip aspiring leaders, developing platforms to scale excellence globally and innovating impact investing. For more information visit VGS at www.vestmentgs.com.
About Food for the Hungry (FH)
FH is a Christian organization serving the poor globally since 1971, working collaboratively to end poverty worldwide through short-term emergency relief and long-term work. FH responds to help shelter, feed and clothe survivors of natural disasters. FH also does long-term development work with the poor to transform impoverished communities into healthy, productive places for children to grow. Their dedicated staff inspires hope in families, churches and leaders in vulnerable communities in more than 20 countries across several continents. For more information, visit FH on twitter, Facebook, or at fh.org.