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While they produce about a third of what we eat, the world’s smallholder farmers have long struggled to secure loans. That, though, is changing. Thanks to a “boots-on-the ground” approach and the use of technologies such as artificial intelligence and machine learning, new lending models are being developed that can expand rural access to finance.
“When we got started, one of the things we noted was that even well-intentioned microfinance banks weren’t lending at any volume to small-scale farmers,” says Eli Pollak, chief executive of Apollo Agriculture, a Kenya-based agritech company. “Fundamentally, their cost structures are suited for a much larger customer.”
https://www.ft.com/content/59a98dec-f960-4b29-9686-1563442ad055
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