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.
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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