RSF Makes New Loan to Huatusco
RSF closed a new loan last week to Huatusco, a cooperative of coffee farmers in Mexico! This loan is part of a $1.6MM facility with our partners at Root Capital and Calvert. RSF’s participation is $400M.
Similar to COCLA, CECOVASA and PRODECOOP, this funding will cover post-harvest financing needs, including coffee purchases from farmers, processing, storage, insurance, and shipping for export. Although this is RSF’s first transaction with Huatusco, Root Capital has been providing them financing since 2002 and will provide the servicing and monitoring of the facility.
Founded in 1992, Huatusco has become Mexico’s eminent worker owned cooperative with a definitive focus in training women farmers into leaders of the co-op and a long term goal of moving all of their production into organic. The co-op was founded after several government and development agency projects aimed at assisting coffee farmers never got off the ground. The indigenous farmers then banded together and took responsibility themselves for lifting the community out of poverty. Veracruz, where Huatusco is located on the Eastern coast of Mexico, is noted for its highlands and large indigenous population. It has largely escaped the commercial tourism prevalent throughout the Mexican shoreline.
- Printed from http://rsfsocialfinance.org/2009/02/rsf-makes-new-loan-to-huatusco/
Latest News
- Evol Foods & Uncle Matt’s on Dr. Oz’s Grocery List
February 3, 2012 - RSF Shared Gifting Funds Featured in The Chronicle of Philanthropy!
January 26, 2012 - RSF Impact Map Launch!
January 18, 2012 - RSF Winter Quarterly: What is the Future Value of Education?
January 9, 2012 - Brown Bag: Putting Your Money to Work for a Sustainable Future
January 9, 2012
