AgroFides is a business development and capital resourcing partner leveraging technology and agricultural expertise to assess creditworthiness and support small and medium-scale farmers in developing countries secure capital and services.
Our mission is to unlock the potential of farmers by turning cash-based farming operations to credit-based businesses.
What We Do
Services provided by AgroFides include extension services, capital resources, and the Fides Score; an analytical tool designed by our firm to identify and invest in creditworthy farmers.
There is untapped capital available for farmers, but the lack of reliable tools to assess risk prevent creditworthy farmers from securing capital. 90-95 percent of farmers' in sub-Saharan Africa are unable to secure credit because banks and micro-finance institutions have no reliable or simplified way to underwrite and service small loans that farmers require. On the off chance that small and medium-scale farmers receive loans, the terms, including interest rates associated with the loans, hinder the prosperity of the borrowers. The interest rate, which is between 20-32 percent, is among the leading contributors to high loan default.
AgroFides' goal is to turn cash-based farming into credit-based farming and dramatically reduce the high-interest rate that farmers receive in order to eliminate the poverty trap that stifles many borrowers. We believe that making farms more profitable will ensure an increase in the chance of loan repayment.
What is a Fides Score?
The Fides Score is a platform for collecting and analyzing pertinent data about farmers in order to generate a "trust" score for the farmers. The Fides Score is more than an analytical tool; it comprises the process that ensures proper client selection and appropriate loan size to meet farmers' needs and potential, as well as robust and cost-effective monitoring and servicing of loans.