Luis Eduardo is thirty-three, married, and lives with his wife and two children, one of whom is in school, while the other attends secondary school. With the loan, he wants to buy supplies for his coffee plantation, such as fertiliser, fumigation, and some herbicide. He would also like to hire help. These will help keep the plants in good condition, enabling him to produce a bit more and thus earn a bigger income to have a better quality of life and be able to afford his children's education. This is his first loan with field partner Fudecosur. He never even took out a loan with a state bank: he turned to Fudecosur because of the much lower interest rates and the less strict granting conditions.
Luis Eduardo, tiene la edad de 33 años, está casado, vive con su esposa y dos hijos, uno en la escuela y el otro en el colegio actualmente. El con el crédito pretende comprar insumos como abonos y fumigaciones y un poco de herbicidas y además ayudarse con la mano de obra. El tiene pensado comprar estos insumos para mantener el café en buen estado y poder producir un poco mas y poder generar más ganancias y obtener una mejor calidad de vida 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.