With the loan he plans to help his coffee plantation. He has a coffee plantation, and plans to invest in supplies such as manure, labor and fungicides in order to get a better plantation. He wants to have a good plantation to sell quality coffee. He wants to generate a greatear amount of earnings for his well-being and that of his family.
This is his first loan that he has received through FODECOSUR. He had not taken other loans previously from the state banks, but FODECOSUR offered him the loan with better terms and much lower interest rates.
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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Success!! The loan was 100% repaid