Total loan: $120,000
California, CA, United States / Agriculture
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Vega Coffee's loan finished fundraising,
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A loan helped To secure and improve incomes for smallholder coffee farmers in Nicaragua and Colombia during COVID-19 and beyond.
Vega Coffee's story
Of the 25 million coffee farmers in the world, more than 80% live at or below the poverty line. They face commodity pricing volatility and and events caused by climate change with little to no bargaining power. A farmer's relationship with their coffee crop often ends at the point of harvest. Vega Coffee has a mission to change the broken coffee supply chain. By eliminating the various middlemen, the company works directly with farmers to provide ethically sourced coffee to organizations and consumers alike. Vega is the only specialty coffee company roasting at origin and regularly delivering to the US. Through higher income and more hands-on training, Vega Coffee enables growth for farmers in Nicaragua and Colombia. Each year, Vega provides approximately 850 hours of training to more than 125 farmers and tests close to 40 microlots. By empowering farmers with the tools, training, and market access to process their own coffee, farmers earn 4x more than through typical export channels. This loan of $120,000 will purchase two coffee nitro-flush machines, which will extend the shelf life of products by two years, bolstering the volumes and incomes of farmers. Learn more from this HuffPost video.