What to know about this Lending Partner
Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.
Status update - April 23, 2021
Kiva continues to work with COCAFCAL to recover the balance owed lenders. Following the recent coffee harvest, COCAFCAL was able to make a repayment to Kiva in April. Lenders should expect to receive payments over the next several years following coffee harvests. However, due to the difficult situation for coffee producers in Honduras, repayment of the full balance is unlikely. These difficulties were exacerbated by the back-to-back hurricanes, Eta and Iota, which caused massive flooding and damage in the coffee producing regions where COCAFCAL borrowers are located.
Status update — February 20, 2019
Due to unexpected liquidity issues, COCAFCAL has been unable to repay their full balance on time. Kiva is in touch with the organization and will continue to work to recover the amount owed to lenders. We will settle out funds as they’re received. Given the lack of repayment, Kiva has decided to move this partner from active to paused status.
Partner description:
COCAFAL is a non-profit small producer coffee cooperative focused on supporting sustainable development in north western Honduras. The organization collects coffee from its more than 800 members and processes it in their own processing plant producing 130.000 quintals per crop (more than 13.000.000 pounds). Their Organic Fair Trade coffee is exported to countries as USA, Canada, UK, Belgium, Germany or Japan. COCAFCAL produces many organic products from the rural communities of Honduras including coffee, fruits, medical herbs, timber trees, nursery plants, organic fertilizers and honey.
The cooperative also offers credit, technical, productive and marketing trainings to its members.
A unique lending approach:
COCAFCAL is always thinking creatively about new ways to improve its members’ production and quality of life. With financial support from the Fair Trade premium, it is offering 4 new loans for organic and Fair Trade beekeeping, passion fruit, coffee growing and food processing.