He will use the loan to buy supplies to help his corn crop. He has a piece of property that is already seeded, and he needs to fertilize it to be able to generate more harvest this coming year. He wants to generate more harvest than last year in order to generate more income than last year.
His priority goal is to generate better income in order to repay the loan and better stabilize his standard of living better. He wants to do this in order to be able to enjoy improved well-being.
This is the first loan he has received from FUDECOSUR. He has not had other previous loans in state banks. FUDECOSUR provided the loan with the best 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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