Blanca Rosa, a widow, is 59 years old and currently lives with her two sons. With this loan she will buy consumable supplies, such as fertilizers and herbicides, for the maintenance of coffee plants. In this way she will be able to maximize her production of coffee and her earnings, and by doing so, she will be able to gain economic stability and improve quality of life for herself and her sons. This is the first loan she has received from Kiva's partner, FUDECOSUR. She has not been able to obtain loans from the state banks, but FUDECOSUR has provided her with a loan with better terms and with a much lower interest rate.
Blanca Rosa, tiene la edad de 59 años, está viuda, vive con sus dos hijos actualmente. Ella con el crédito pretende comprar insumos como abono, herbicidas, foliares, para el mantenimiento del café y así poder obtener el máximo de producción de la plantación de café y con ello poder obtener más ganancias para obtener una mejor calidad de vida y la de sus hijos 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.