Yao is 54 years old. He has 11 dependents under his roof. He has been with CAAM for 10 years, and he has 17.5 hectares of cacao farmland certified by the Rainforest Alliance, which means that he adheres to the principles and standards of sustainable agriculture.
He will use this loan to buy fertilizers for his plantation. These products will allow him to increase production and to bolster his income.
He wants to use the additional revenue to build a new house.
Yao a 54 ans. Il s’occupe de 11 personnes dans son foyer. Cela fait 10 ans qu’il fait partie de la coopérative CAAM et il a 17.5 hectares de cacao certifiés Rainforest Alliance, ce qui veut dire qu’il respecte les principes et les normes de l’agriculture durable.
Grace au crédit, il va pouvoir acheter de l’engrais pour sa plantation. Ces produits vont lui permettre d’augmenter sa production et ainsi d’accroître ses revenus.
Avec l’argent supplémentaire, il va construire une maison.
More information about this loan
This loan is part of Advans Côte d'Ivoire's Cocoa Livelihoods Program, which provides credit to cocoa producers who belong to a participating fair-trade certified cooperative. This Kiva loan will thus be used to provide borrowers with needed goods or services, as opposed to cash or financial credit. In addition to credit, farmers receive technical assistance, management training, and access to high-quality agricultural inputs like fertilizer and seeds through the cooperative. To guarantee the loan and share liability, the cooperative has taken out the funds as a group. Lenders are advised that fluctuations in cocoa prices and the local climate could impact repayment.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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