With this loan, Alfonso plans to purchase the inputs necessary to tend to his coffee crop, such as fertilizers and pesticides. His land is suitable for full cultivation and is in production but in fair condition. His goal is to increase his harvest and to put the land into good condition for coffee production. In this way he will meet his primary goal of increasing production and generating higher earnings for the well-being of his family.
This is Alfonso's first loan with FUDECOSUR. He has not had previous loans with state banks, but FUDECOSUR granted him the loan with ease and the interest levels are much lower.
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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