Café Sustentable joins SPR Cosechando Riqueza to provide cheap and accessible financing to more small coffee farmers and the possibility of exporting their crops to international markets.
We're still in luck, ethichubbers! If a few days ago we told you that we set up in Ecuador and added a new country where you can access our services, today we want to share with you that we are expanding our presence in Mexico with a second originator hub. And here we would like to acknowledge the support and help that our oldest originator, Cosechando Riqueza, has provided throughout the process. How easy synergies arise when the purpose is shared!
The new originator, Café Sustentable, is a cooperative society formed by women and men from seven different communities that produce 2,900 packages of organic and environmentally friendly high altitude coffee. Forty-seven members of the cooperative will participate in this first pilot project, directly benefiting 216 people who are part of their families. Geographically, they are located in the municipality of Montecristo de Guerrero in the State of Chiapas.
Contribution of collateral for Sustainable Coffee
As we told you with the announcement of our landing in Ecuador, now all of you can become guarantors of Café Sustentable's producers, using your ethix as collateral for the loan requested. One of the implementations that we are most proud of around here is having designed this "crowdcollateral" or the possibility that any ethixholder can participate in this collective collateral for the benefit of the farmers. For investors' peace of mind, the loans agreed with Café Sustentable are 100% collateralized in our token. The originator hub provides 20% of the collateral, the auditor hub another 20% and the remaining 60% is contributed by all ethichubbers, who use our ethix so that this new incorporation can materialize. This is how we achieve that this profile of people, hard-working and very knowledgeable about field tasks, can participate in the platform and have access to better financing than they currently have, solving the problem that they do not have their own collateral. And this is how we think that collaborative ecosystems like ours are an example to show that there is another way of doing things and contribute to bring this technology and its possibilities to the people who need it most.
This link will take you to the community collateral presented by Café Sustentable. By connecting your wallets -and choosing the Ethereum blockchain- you can deposit your ethix in the collateral contract and become a supporter of the farmers. The goal is that, between all of us, we will manage to collect all the collateral required. So, if you are interested in participating, don't take too long, as the contract will be closed once 100% of the collateral has been raised.
We reiterate our recognition to the work done by Cosechando Riqueza and the EthicHub team that has participated in materializing this new incorporation. And to all the ethichubbers who participate in the collective collateral of the farmers and in the financing of their projects.
EthicHub is a ReFi (Regenerative Finance) protocol that helps unbanked farmers access capital at low interest rates in a win/win model where all stakeholders benefit from the interaction. Its crowdlending platform was launched in June 2018, and to date (January 2023) it has brokered more than $3M in microcredits to more than 600 families in 5 countries.
