Eskala

Eskala

Alleviating poverty in Latin America through community-owned banks

Alleviating poverty in Latin America through community-owned banks

Overview

Raised to Date: Raised: $131,070

Total Commitments ($USD)

Platform

Wefunder

Start Date

03/28/2023

Close Date

04/30/2023

Min. Goal
$50,000
Max. Goal
$5,000,000
Min. Investment

$200

Security Type

Debt

SEC Filing Type

RegCF    Open SEC Filing

Interest Rate

5.00%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

04/30/2023

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$4,096

# of Investors

39

Momentum
Funded
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Year Founded

2020

Industry

Financial & Insurance Products & Services

Tech Sector

Fintech

Location

Forest Park, Illinois

Eskala is raising funds on Wefunder. The company is a spinoff of the non-profit Global Brigades and is committed to alleviating poverty in Latin America. The business focuses on partnering with community leaders in rural Central America to grow the capacity of their baking cooperatives and lend low-interest loans to under-resourced people. Eskala has issued $1 million in loans so far and serves the capital needs of more than 2,500 micro-enterprises. Colleen O’Brien, Pallav Vora, Luis Quan, and Steve Atamian founded Eskala in October 2020. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $5 million. The campaign proceeds will be used for making micro-investments in rural banking and agricultural cooperatives, scaling the model to other countries in Central America and West Africa, and general operating expenses.

Summary Profit and Loss Statement

FY 2021 FY 2020

Revenue

$76,965

$0

COGS

$0

$0

Tax

$14,469

$0

 

 

Net Income

$-898,229

$-3,744

Summary Balance Sheet

FY 2021 FY 2020

Cash

$361,148

$613,460

Accounts Receivable

$1,170,082

$0

Total Assets

$1,910,632

$613,460

Short-Term Debt

$631,341

$2,204

Long-Term Debt

$250,300

$0

Total Liabilities

$881,641

$2,204

Financials as of: 03/28/2023
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Eskala on Wefunder 2023
Platform: Wefunder
Security Type: Debt

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