x

RSS Newsfeeds

See all RSS Newsfeeds

Global Regions

Latin America ( XML Feed )

Jul 22, 2016 5:34 EST

Mexico – Arrecifes De Kino Sc De Rl De Cv, a cooperative engaged in sustainable pen shell fishing: A loan of $4,875 helps to pay for working capital to continue with scallop harvesting and to start crab fishing.

iCrowdNewswire - Jul 22, 2016

Arrecifes De Kino Sc De Rl De Cv

 
 
Borrower image
 

Arrecifes De Kino Sc De Rl De Cv’s story

Eva (in the picture) leads Arrecifes de Kino, a cooperative engaged in sustainable pen shell fishing. Pen shells live buried in sandy bottoms of the Gulf of California and are harvested by divers for their abductor muscles or scallops known as “callo de hacha”.

Last year in October, Eva recieved a Kiva-funded loan that capitalized Arrecifes de Kino for working capital during the high season. Part of this loan was used to pay native Seri fishermen for the scallops they harvested. The loan helped increase Arrecifes de Kino’s revenues. It also contributed to the conservation of the Canal de Infiernillo, and thus set an example for other groups that sustainable fishing can also be profitable.

This time, Arrecifes de Kino is asking for a 90,000 MXN loan to continue with the scallop harvesting. The new credit will also help Arrecifes de Kino to diversify its products, since they will start crab fishing. This diversification will help Arrecifes de Kino to increase their revenues and improve the quality of life for it’s members.

COBI (cobi.org.mx), a non-profit organization dedicated to promoting the conservation of marine biodiversity in coastal communities of Mexico, has trained Arrecifes de Kino to engage in responsible and sustainable fishing. So, the activities that will evolve from this loan will not affect the environment. 

This loan is special because:

It reaches women entrepreneurs that lack financial resources. 

Juan
Kiva staff 

More about this loan

This loan is part of El Buen Socio’s efforts to reach women entrepreneurs that lack of financial access to banks and other institutions. If they do have access to microfinance institutions, the high interest rates in Mexico often mean this funding is not useful for them to make their business grow to the next level. By funding this loan, you are providing affordable seed capital and allowing female entrepreneurs to grow their businesses.

About El Buen Socio:

El Buen Socio is an ethical microfinance institution in Mexico that promotes sustainable development by strengthening people’s capabilities and supporting entrepreneurs with eco-friendly businesses.

Vulnerable, low-income entrepreneurs will use loans issued by EBS to fund productive projects that have a positive social and environmental impact, including farming, forestry or fishing activities. Each of these projects are conducted in an eco-friendly way with sustainable use of natural resources.

A loan of $4,875 helps to pay for working capital to continue with scallop harvesting and to start crab fishing.

Contact Information:

Arrecifes De Kino Sc De Rl De Cv

View Related News >
support