Lots of interesting facts include the number 2,000. Did you know, for instance, that there are 2,000 varieties of rice? Or that there are 2,000 coffee shops in Seattle?
It’s a very exciting day for us because today we get to add our own fact to this list: As of today, Root Capital has officially disbursed 2,000 loans to small and growing agricultural businesses throughout Africa, Asia and Latin America!
Our 2,000th loan, a $250,000 trade credit loan, went to brand-new Root Capital borrower CAFICO, a 400-farmer coffee cooperative in Honduras. Founded in 2009, CAFICO provides its members with higher prices thanks to price premiums associated with fair trade, organic, and Rainforest Alliance certifications. With this loan, CAFICO will be able to provide farmers with timely payments for their coffee.
People often ask about the life cycle of each Root Capital loan – how do we find our leads? What kind of due diligence do our loan officers conduct? How are funds released to borrowers? The truth is that it takes many steps – and many people – to disburse even one loan to our clients, let alone 2,000.
In celebration of this 2,000th loan – and the 1,999 that came before it – we wanted to give you a behind-the-scenes look at the Root Capital loan process and celebrate the many ‘unsung heroes’ on our own team who play a critically important role in advancing our mission to grow rural prosperity.
Check out the Prezi below, and let us know what you think!