Yamileth plans to use this loan to buy calves to raise. She has a plot of land which is suitable for raising livestock and she plans to fatten the calves and then sell them in her local market. She would like to make good profits from these animals so that she can help her husband with their expenses and keep improving their quality of life.
This is Yamileth's first loan from FUDECOSUR. She hasn't received previous loans from state banks but FUDECOSUR offered her this loan with better repayment terms and a much lower interest rate.
More information about this loan
FUDECOSUR works in one of the poorest regions of Costa Rica, where microfinance institutions (MFIs) are scarce or have a hard time keeping up with demand for small loans. By providing mostly agricultural loans, FUDECOSUR reaches rural borrowers that many MFIs consider to be too risky. However, this has also made it more difficult for the organization to find stable sources of capital to lend. Kiva's flexible, risk-tolerant capital plays a critical role in helping FUDECOSUR grow its portfolio and support even more borrowers.
About FUDECOSUR:The Foundation for the Development of Southern Communities (FUDECOSUR) is dedicated to economically empowering its clients by providing credit and training programs that help improve living conditions for micro-entrepreneurs and their children across Southern Costa Rica. You can learn more about this Field Partner at fudecosur.org.
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