EthicHub achieves 0% default for the second year in a row by financing small farmers who have been unbanked

 

The projects financed by EthicHub in 2018 and 2019 have been paid back in full, meeting the conditions stipulated. This was reported by EthicHub to Cointelegraph en Español from Spain in a press release.

EthicHub is a collaborative financing platform, which puts unbanked small farmers in touch with users and buyers from all over the world. From this platform they assured that they maintain a 100% success rate in project financing.

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„In the last two years, small coffee communities that have requested loans to finance their crops have paid back the requested principal, plus the agreed upon interest. Las Delicias Bitcoin Code – Bitcoin Revolution – Immediate Edge – Bitcoin Trader – The News Spy – Bitcoin Profit – Bitcoin Billionaire – Bitcoin Circuit – Bitcoin Era – Bitcoin Evolution, Chespal, Chanjalé, San Rafael, Guatimoc and La Boquilla are the communities that have achieved this important milestone, which puts in value the work done by the Spanish startup in the selection of the projects in its platform“, detailed in the statement.

It should be recalled that EthicHub is a social enterprise, specializing in financing small coffee producers in Mexico, which selects projects based on the real economy and productive, backed by the work and culture of effort.

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„Until the arrival of EthicHub, these communities only had access to financing with interest rates that exceeded 100% per year, a circumstance that made it impossible for them to break the cycle of poverty, despite being working people and having a profitable activity. The EthicHub model is committed to creating ecosystems where collaboration and mutual cooperation favours participants. On the one hand, farmers now have access to much cheaper and more accessible financing, while investors opt for projects with high profitability and moderate risk, generating, in addition, a notable social impact with their loans,“ they said.

Acknowledgements

In the last two years, EthicHub’s work has been recognized nationally and internationally. At the end of 2019 they won the Social Impact Project of the Year award at the Malta AI & Blockchain Summit and this year 2020 they were co-winners of the Chivas Venture 2020 world final.

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Blockchain technology
On April 28, Cointelegraph en Español published an interview with Íñigo Molero, BD Manager and head of communications at EthicHub. On that occasion, he commented:

„EthicHub brought together two things that fascinated me; the possibility of generating positive impacts on a global level and the use of Blockchain technology. And after two and a half years of work EthicHub is a recognized Spanish startup, with a functional blockchain platform and whose work has been awarded nationally and internationally. We have also obtained funding from the BIDLab, the innovation laboratory of the Inter-American Development Bank, which is committed to our disruptive model of financially including small farmers around the world. It’s true that we are just beginning and that the whole ecosystem has yet to mature and materialize all these promises, but it’s also true that this is a perfect moment because we have a great opportunity to be activists and not just spectators.