He has a field that’s apt for transplanted seedlings and he intends to buy supplies like manure and fungicide and to pay labor costs to obtain a good harvest. He wants to plant good quality coffee to sell in the local market or surrounding areas and also for his own consumption. He wants to generate higher profits for his and his family’s wellbeing.
This is the first loan he’s received from Fudecosur. He’s had no previous loans with state banks but Fudecosur has offered the 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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Success!! The loan was 100% repaid