He wants to buy corn and bean seeds and supplies in order to plant ten hectares on his farm, which is his own property. He has been devoting himself to his farm for several years. He wants to grow, and he also wishes for his farm to become more productive.
This is the first loan that he has received from FUDESCOSUR. He had no previous loans with state banks or cooperatives, but FUDESCOSUR offered the loan with better terms and a much lower interest rate.
He has the desire to give his children the education they need in order to be prepared in the future and so that they are able to face life in an easier way.
He is currently a member of an association of basic grains producers. This association helps other producers to be able to sell their harvests.
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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