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Myriam
Myriam is 50 years old and divorced; she lives with her son, who is her highest priority.

With this loan, she intends to purchase a sewing machine that will facilitate the sewing of certain seams, giving a better finish to the garments she makes in addition to increasing the number of pieces made. With this purchase, she expects to produce more clothing and thus complete her orders in a short time frame. That way, she will have more income, with the objective of being able to invest in more raw materials.

This is the first loan that Myriam has received from FUDECOSUR. She had not had other loans with state banks before, but FUDECOSUR has offered her the loan with greater simplicity and a much lower interest rate.
View original language description ↓
Myriam, tiene la edad de 50 años, está divorciada, vive con su hijo el cual es su mayor prioridad. Ella con su crédito pretende hacer la compra de una máquina de coser, la cual le facilite la elaboración de ciertas costuras que le den un mejor acabado a las prendas fabricadas, además de aumentar la cantidad de unidades confeccionadas. Con esta compra pretende hacer más ropa y así cumplir con los pedidos a corto plazo. De esta manera tener más ingresos con el objetivo de poder invertir más en matería prima. 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.

Additional Information

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.

About Costa Rica

  • $11,100
    Average annual income
  • 1
    View loans »
    Costa Rica Loans Fundraising
  • $4,022,575
    Funds lent in using Kiva
  • 498.5
    Costa Rica Colones (CRC) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $325 helped Myriam to purchase a sewing machine.
99% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Jun 1, 2012
Listed
Jun 27, 2012
Currency Exchange Loss:
Possible
Ended:
May 17, 2014