She is currently producing products for a company that buys her products to sell in urban areas and larger markets. That's why she needs the loan, to buy more natural products to elaborate more cosmetics and increase the amount of production. She wants to produce more than normal and supply the buying market with her beauty products.
She wants to enter this market and strengthen her income with the profits generated by the increase of cosmetics. Doing so, she wants to give a better quality of life and a better family welfare to her children. Also, she expects to meet the payments of the loan with the profits, and at the same time, be grateful for the support to her life project.
It's the first loan she receives from FUDECOSUR. She hasn't had any other loans in state banks before, but FUDECOSUR gave her the loan with better facilities and an interest rate much lower.
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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