With the loan he wants to buy tools for his mechanic shop. He has a place and the experience necessary to get ahead with the project, for which he wants to buy more tools to be able to give his customers better service. With the purchase of these tools he will perfect his work and be able to offer his customers better and higher quality results. With this he wants to generate the greatest quantity of profits for his and his family's well-being.
This is the first loan he has received from FUDECOSUR. Previously, he had not had other loans from state banks, but FUDECOSUR has offered him this loan with better 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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