Asiya is a social business that enables and encourages more Muslim girls and women be physically active and participate in sports while also upholding religious traditions and cultural beliefs. The company designs and sells sports hijabs, which can be customized for clubs and sports teams, and advocates for inclusion in sports. Asiya was the impact division winner of the MN Cup in 2016.
Recipient Name: Asiya
Corporate Form: Limited Liability Company
Entrepreneurs: Fatimah Hussein, CEO; Jamie Glover, President
Investment Sought: $50k - $200k
Amount Raised To Date: $115,000
Overview of Investment Terms:
Years 1-2: No payments; simple interest accrues at 2% and is paid in full at end of Year 2.
Years 3-5: Annual interest-only payments; simple interest at 3%, 4%, and 5% in Years 3-5 respectively.
Principal to be repaid in three payments at end of Year 5.
10-year warrant for 20% of PRI principal
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