Maria Del Carmen
She will use her loan to buy a sewing machine that is needed for her sewing shop, as well as to buy materials such as fabrics, threads, lace and other products for the production of handicrafts. She currently has a location for her shop and wants to buy this sewing machine to produce more and so increase her clientele by giving her work more support and a quality finish.
Her goal is to increase her profits and give her husband extra help with household responsibilities and thus enhance and contribute to their economic stability. It is her first loan from FUDECOSUR. She hasn't had other loans in state banks before, but FUDECOSUR has given her the loan with improved ease 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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Success!! The loan was 100% repaid