CSAF has been collecting lending data from our members since 2013. Over the period 2013-2024, CSAF members cumulatively lent $7.7B to 1,739 businesses that have supported 7M smallholder farmers.
CSAF member lending in 2024 is characterized by the following:
- Lending volume rebounded while the number of borrowers remained consistent. After a drop in disbursements in 2023, lending activity increased by 14% to $799M. This growth was driven primarily by increased demand for financing tied to record-high global prices for coffee and cocoa.
- Lenders supported new borrowers at smaller ticket sizes. In 2024, the median loan size to new borrowers dropped to $250k, as lenders extended financing downmarket to businesses with smaller capital needs but growing potential for impact and scale.
- Write-offs increased sharply as a result of higher risk in recent years. Write-offs nearly doubled in 2024 due to the elevated risks posed by price volatility, climate shocks, and management challenges. Write-offs still remained down from the peak of 8.1% in 2020 and 2021 tied to the COVID pandemic.
- Shifting macroeconomic conditions and aid policies have increased uncertainty. The full effect of inflation, decreased foreign aid flows, tariffs, and other large-scale economic factors remains to be seen, but agri-SMEs and lenders are acting to build resilience for what lies ahead.
Learn more by reading our State of the Sector reports and visiting the CSAF Open Data Portal.