Ovidio is 45 years old, married, and lives with his son and wife who are his main priority. He plans to use his loan to buy supplies such as fertilizers and agricultural chemicals to keep his crops in top condition. He has a plot of land which is in very good condition for growing his crops and so he re-sowed them there this year. He plans to make as much profit as possible and produce a very good harvest so that he can make a good sum of money from his sales. He plans to use this money to repay his loan and improve his future financial stability.
This is the first loan that Ovidio has received from FUDECOSUR. He has not received previous loans from State banks but FUDECOSUR gave him this loan with better terms and a much lower interest rate.
Ovidio, tiene la edad de 45 años, está casado, vive con su hijo y su esposa que son su mayor prioridad. El con el crédito pretende comprar los insumos como las fertilizantes y agroquímicos para tener su siembra en óptimas condiciones. El tiene un terreno en muy buenas condiciones para la explotación de este cultivo, por lo cual volvió a realizar la siembra el cultivo este año. El tienen pensado generar el máximo de las ganancias y producir una muy buena cosecha para obtener de las ventas una buena cantidad de dinero. El tiene pensado con este dinero salir adelante con el crédito y mejorar su estabilidad económica del futuro. Es el primer préstamo que recibido de FUDECOSUR. El no había tenido antes otros préstamos en bancos estatales, pero FUDECOSUR le ha brindado el préstamo con mayores facilidades y la tasa de intereses mucho más baja.
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.
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.