Karen has for the past two years earned a living planting and harvesting rice. She previously grew coffee, but her husband helped her learn to grow rice. Karen rents a plot of land that is 15 kilometers from her home, so she usually goes to work on a bicycle, but sometimes rides in a car. She sells her crop to brokers in the area.
Karen is applying for a loan for the purchase of agricultural supplies such as manure, urea, foliar fertilizers [which plants absorb through leaves], machiner to work the land, and to pay laborers. These investments will help Karen boost her rice yield. She plans to keep investing, expanding her land, increasing her harvest and earning more income so she can provide for her children. Karen also will invest part of her earnings in the purchase of a small plot of land that she can work herself.
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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