We celebrate the second consecutive year of 0% default on projects!
All projects financed by EthicHub in 2018 and 2019 have already been paid back in full, complying, on time, with the stipulated conditions.
In the last two years, we have achieved 100% success in the repayment of the financed projects, with the enormous added value of generating a remarkable social impact. We have financed over 60 agricultural projects and more than 40 have already been successfully repaid.
All our projects are based on real and productive economies, on hard-working people and the culture of effort. Our farmers have sufficient experience and can generate profitable products and services, but they are normally unable to break the cycle of poverty. They are trapped in this cycle, because they are excluded from the traditional financial systems and lack access to reasonable interest rates on financing.
With the help of EthicHubers, this situation is rapidly changing!
Since we launched our platform, in June 2018, we have been able to join more than 180 families of unbanked coffee farmers who can now benefit from new financing at much more affordable rates. EthicHub is emerging to break the barrier of access to financing and facilitate the financial inclusion of these farming communities. We have demonstrated our resolve during the last two years by steadily increasing the number of small coffee communities on the platform and bringing their magnificent coffee to international markets such as China and Spain.
All financed farmers have honored their commitments and have returned to the EthicHubers the money they received in financing, plus the agreed interest.
At the closing of this last harvest, our default rate continues to be 0%.Crypto-Economy shows how everyone can benefit from mutual collaboration.
Las Delicias, Chespal, Chanjalé, San Rafael, Guatimoc, and La Boquilla — communities that have fulfilled their commitments — are the protagonists of the hashtag #trustworthy, which we are proudly launching on social media. And we are convinced that the new communities that have recently incorporated — La Soledad, Salchiji and Pavencul — will also be included under this same hashtag next year. EthicHub’s achievements are now known far and wide and thanks to a wonderful team of like-minded individuals, our success is consolidated day-by-day.
We also want to recognize the incredible work done by Mario López, our first Local Node. Mario has been responsible for selecting the participating farmers, explaining to them what EthicHub is and what our ultimate goals are. In a project as disruptive as ours, Mario is the fundamental “human factor” that has provided closeness, trust, supervision, and helpful advice to farmers.
Along this successful journey, an increase in the number of new EthicHubers, a fundamental part of the ecosystem, has also been notable. Your participation enables the new paradigms of collaboration and mutual benefit. Thank you for promoting the socio-economic development of our farmers, not only by financing the crops but by opening new markets with new projects. In a short period of time, more than 50 tons of this exceptional coffee will be shipped to China and Europe.
This is just the beginning. In the words of T.S. Eliot, the future holds more than the past has yielded.