With the loan, he wants to pay for the agricultural inputs such as fertilizers and sprays and the labor and also to buy the coffee plants. He has thought that he will buy all these agricultural inputs and the seedling of coffee for his next coffee planting. With this, he hopes to make better profits, obtain a better quality of life and economic stability.
This is his first loan from FUDECOSUR. He has had other loans from the government banks, but FUDECOSUR has offered him a loan with better characteristics and much lower rates.
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