Before this loan, María's life was very difficult because she had to borrow money from private individuals at high interest rates. She had to offer the coffee harvest as a guarantor, and was paid a very small price for it. Profits were lower but this loan changed all of this.
María is now applying for a second loan to invest in her coffee crops. The harvest from her first loan allowed María to pay off her loan and her profits were invested in making improvements to her crops. Before she did not have a high yield and parts were rotting. María again needs to help her coffee crops to grow.
More information about this loan
These loans are designed for female farmers who produce a variety of products (onion, garlic, eggplant, spinach, mango, strawberries, etc.). Loan terms will vary depending on need, and borrowers can choose to make a "bullet" payment timed with harvest profits. Agricultural loans are considered risky in Honduras due to external forces like unpredictable weather and worldwide crop prices. As a result, many traditional financial institutions are unwilling to offer these loans. With Kiva funding, COMIXMUL will be able to reach more borrowers with agricultural loans tailored to their needs.
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This loan has been fully funded!