With the loan she wants to buy beauty products for her salon. She has a place where she works and needs to stock her salon even more with products for her customers. With this she will be able to give them better service and results in both quality and variety of products. From this she hopes for better results to be able to give her son a better quality of life for his future.
This is the first loan that Marjorie has received from FUDECOSUR. Previously, she had not had other loans from state banks, but FUDECOSUR has offered her a 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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