With prices for plantains rising in the area, Benjamin sees an opportunity to put three hectares of his land under plantain cultivation and increase his income. In partnership with Planting Empowerment, he will use the Kiva loan to purchase plantain seed stock, fertilizer, and other inputs, and help cover the labor costs of planting, maintaining, and harvesting the plantains.
Benjamin plans to use the proceeds from the plantain harvests as a supplement to his income. He sees the plan as a double benefit, first as a daily wage, and second, the profit sharing. If all goes well, he may be interested in a long-term timber project in the future on this same land, and again have an agricultural component to the project.
More information about this loan
This loan is designed to help smallholder farmers or local communities generate short-term crop revenue while waiting for their tree plantations to reach maturity. If the loan is for a smallholder farmer, it is an individual loan. If the loan is to a community, it benefits a geographic area of 250 to 1,000 people. This loan will be repaid using revenue from the sale of plantains. Profits will be shared equally between planting empowerment and borrower or borrower community.
Because Planting Empowerment is a relatively young organization that completed its first plantain harvest in August 2013, this loan may carry a higher level of risk than typical Kiva loans. Expected repayments to Kiva lenders are based on projected harvest revenues.
Important InformationThis Kiva loan will be used to provide borrowers with needed goods or services, as opposed to cash or financial credit.
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This loan has been fully funded!