Severo is 67 and married. He currently lives with his granddaughter and wife. With this loan, he will buy supplies to maintain his coffee crop, to buy seeds to make a seedbed, and to invest in labor to be able to obtain the maximum production from his coffee crop. He will also sell the seedlings from the seedbed, and he will be able to obtain more profits, resulting in a better quality of life for his family and economic stability. This is the first loan he has received from FUDECOSUR. He hasn't had a loan with another bank, but FUDECOSUR has offered him the loan with better payment terms and a much lower interest rate.
Severo, tiene la edad de 67 años, está casado, vive con su nieta y su esposa actualmente. El con el crédito pretende comprar insumos para el mantenimiento del café y semilla para hacer un almacigó y las bolsas, e invertir en mono de obra y así poder obtener el máximo de producción de la plantación de café y además vender la plantación de almacigo, y con ello poder obtener más ganancias para obtener una mejor calidad de vida y de su familia y una estabilidad económica. 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.