Karen wants to use the loan to purchase cosmetics that she can sell. She plans to buy a wide range of cosmetics so she can increase her turnover. She wants to sell her products for a good price at the local market, to run her business competently, and to earn higher profits so can achieve a better quality of life and a stable economic situation for herself and her family.
This is Karen’s first loan with FUDECOSUR. She has not had any previous loans with government-run banks, but the loan FUDECOSUR is offering her has 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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