Dear EthicHubbers who have given your trust by financially supporting Domingo Rosales Amaya (CODICAFE)
The period of 90 days of margin, granted to Originators who may have a minor incident, for the return of the loan requested from the EthicHub platform, has passed. Unfortunately, in this case, after exhausting all possible avenues, we conclude that there has been bad faith on the part of the legal person responsible for CODICAFE and there is no willingness to pay, so we have activated the Compensation System (collective collateral) so that the participating investors recover the principal plus the interest accumulated to date.
It is important to note the enormous value that this Compensation System brings to the platform, because it allows protecting the trust of the majority of Originators who are honest and compliant: as you can see over almost 6 years, the rate of default remains very low.
https://ethix.ethichub.com/stats
It is our commitment to improve our validation system so that this default remains as low as possible over time, making EthicHub the only alternative for those thousands of small producers without access to traditional financial systems.
We hope to continue counting on your trust to support new projects, whose selection process we are perfecting based on the experience acquired and the participation of trusted auditors such as Heifer International.
We also thank those who participate in Collective Collateral, giving security to investors by supporting the loans of farmer cooperatives. These participants in the EthicHub ecosystem are the pioneers of an incentive system in which they absorb part of the default, along with the collateral provided by the cooperative and the auditor (in this case EthicHub).
Thank you very much for continuing to build EthicHub together!