With the loan he intends to buy supplies like manure and chemicals to keep his coffee plantation in optimum condition.
His goal is to keep his crops in the best condition so that the next harvest will have a greater production of coffee and an improved production output. His goal is that the improved crop with better production results will give him more income and improve his family's well-being.
This is the first loan that he has received from FUDECOSUR. He wouldn't have had other loans from state banks before, but FUDECOSUR has given him the loan with greater facilities 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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