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Problem
~75% of Guatemalans rely on wood as their primary cooking fuel and 51% still live in poverty; inefficient, expensive, & unsustainable combustion technology remains one of the biggest threats to the health & welfare of both Guatemala's families & its environment.
Solution
Established in 2013, Estufas Chispa is a Guatemalan social enterprise that specializes in the design & development of improved biomass cooking technology. Chispa creates affordable, environmentally sustainable technologies that address needs of vulnerable populations by improving indoor air quality and combustion efficiency for 2.3 million poor families that use unsustainable, expensive cooking fuels. Chispa's unique product design process engages users directly to develop cookstoves that meet their exact needs. This approach—coupled with a high-quality reputation—has propelled Chispa through its proof-of-concept-phase toward stable growth.
Loan Use
The loan will provide working capital to build up its inventory as well as acquire a delivery vehicle to reduce external costs as Estufas Chispa advances from regional to national distribution. Furthermore, this will allow Chispa to provide sales on credit since affordable local financing options are sparse. Thus, this loan will enable Chispa to bolster access to improved biomass technology that betters rural Guatemalan's quality of life & overall well-being.
