With her loan she plans to prepare her plot of land manually to have better soil conditions and to buy corn seed, organic fertilizer, and other products she needs for planting and caring for the crop. She also needs to pay for labor to plant and maintain the crop, such as manual weeding to avoid chemicals, and some cultivation tasks such as making levels to avoid soil erosion from the rain. This way she'll be certain of having a good crop.
She hopes the loan will make it possible to have everything ready before the rains end so the crop will be a good size. She also will put into practice various years of experience growing basic grains. And she wants to buy the best-quality products so her farm will have good and healthy growth.
She'll use the income she hopes to get from the harvest to achieve some family goals and continue investing more in her crops.
This is the first loan she has received from FUDECOSUR. Previously she had not had other loans from state banks, but FUDECOSUR has offered her 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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