He is relying on land that was already planted in coffee several years ago and that is in good condition now for exploitation. He intends to use the loan to make the profits necessary to go ahead with his coffee plantation project and generate income for his own well being and that of his siblings and parents.
This is José Pablo’s first loan with FUDECOSUR. He has not had other loans before from state banks, but FUDECOSUR more easily provided him with a loan and at 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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