Total loan: $32,000
moñitos, Cordoba, Colombia / Agriculture
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A loan helped to transform 1,500 tons of coconut shells into jobs and income for rural communities in Colombia.
“I thank Cocotech. We want this company to never leave our village so that it continues to generate employment. That translates into wellness for everyone, especially in this region where jobs are scarce.” -Pascual Polo, coconut grower Problem: 67% of the population on the Colombian Caribbean coast lives in poverty, 17% lives in extreme poverty. There's little formal employment and many families make less than 1/3 of the minimum wage. Solution: Cocotech was founded to help vulnerable farmers rebuild their lives through dignified employment while fighting environmental degradation. Cocotech works with farmers in rural Colombia to collect and recycle coconut shells, converting them into organic fiber and wood chips used in agriculture and manufacturing. Cocotech creates new jobs and additional income for farmers, improves agricultural outcomes through training programs, and mitigates environmental impacts of burning and discarding of coconut shells into freshwater sources. Learn more about Cocotech's work and impact here. Use of the Loan: This loan would provide working capital to scale Cocotech’s operations and production capacity - hiring 12 new full-time workers, sourcing from 50 additional farming families, and recycling over 1,500 tons of coconut shells. This loan transforms vulnerable communities by providing dignified work, skills development, and a better quality of life.