He will use his loan to buy supplies for his coffee plantation such as compost, herbicides and foliar fertilizer. The field has been planted for a year and he needs to attend to it in order to obtain a good harvest and also with a part of it in production it also needs assistance in order to strengthen the plantation and thus obtain a good crop yield this growing cycle. He has planned with this improvement to give his little plantation more growing strength and to protect it from being prone to loss from disease and with this harvest to increase the quantity of coffee produced over last year.
Over the long-run he wants to earn more from his fields and to have better financial stability for his future and that of his family. This is the first loan he has received from Fudecosur. He has not had other loans from state banks but Fudecosur has given him a loan with better terms 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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Success!! The loan was 100% repaid