In early March 2024, Adri Williams, the managing director of Khayelitsha Cookies (KC), a social enterprise based in Cape Town, South Africa, was satisfied that, 20 years after it was founded, KC was achieving its vision of providing meaningful work to otherwise unemployable women in Khayelitsha, a township in Cape Town. But although the company was technically solvent, it still had outstanding debt of R1.1 million (nearly US$60 000), which needed to be repaid by 2027.