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Edwin
36 year old Edwin is married and lives with his 2 children and wife who are his major priority. He will use the loan to buy a machine for cutting wood that he needs to strengthen his little construction business. He has been working in construction for some years and right now is needing this machine to make his work more precise and save valuable time so that he can get on to other construction jobs. He thinks that, with this purchase, he will have a more agile business and better finishes on his jobs in which case he hopes to have more job offers and so to generate more income for his economic stability and offer his children a better quality of life in the future, which is his primordial desire as a parent. This is the first loan that he has received from FUDECOSUR. He has not had loans from state banks, but FUDECOSUR has offered him a loan with better features and an interest rate that is much lower.
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Edwin, tiene la edad de 36 años, está casado, vive con sus 2 hijos y su esposa que son su mayor prioridad. El con el crédito va comprar una maquina de cortar madera que necesita para ir fortaleciendo sus pequeña empresa de construcción. El tiene varios años de trabajar como constructor y ahorita está necesitando esta máquina para hacer mas ágil su trabajo y economizar tiempo valioso que se puede avanzar en hacer otros trabajos dentro de la construcción. El tiene pensado que con esta compra va a dar más agilidad y mejores acabados a sus trabajos por lo cual espera tener más oferta de trabajos y así ir generando más ingresos para su estabilidad económica y brindarle a sus hijos una mejor calidad de vida en el futuro que es su primordial deseo de padre. 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
  • 9
    View loans »
    Costa Rica Loans Fundraising
  • $4,059,650
    Funds lent in using Kiva
  • 498.7
    Costa Rica Colones (CRC) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Edwin to buy equipment and tools to do better construction finishing.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Jun 25, 2012
Listed
Jul 14, 2012
Currency Exchange Loss:
Possible
Ended:
Dec 22, 2014