Faustino, 42 years old, is married and currently lives with his wife and two children. With this loan, he plans to buy coffee plants for his next planting, as well as supplies such as fertilizer and fumigation sprays to help help him with the work. He is thinking of buying this plant so he can produce a bit more and generate more income. He also wants to achieve a better quality of life, economic stability, and pay for his children's educations. This is the first loan that he has received from FUDECOSUR. He had not had other loans from state banks before, but FUDECOSUR has easily provided him with this loan and the interest rate is much lower.
Faustino, tiene la edad de 42 años, está casado, vive con su esposa y dos hijos actualmente. El con el crédito pretende comprar almacigo de café para su posterior siembra e insumos como abonos y fumigaciones y ayudarse con la mano de obra. El tiene pensado comprar este almacigo para poder producir un poco mas y poder generar más ganancias y obtener una mejor calidad de vida y una estabilidad económica y poder pagar el estudio de los hijos. 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.
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.
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.