With these improvements, she hopes to increase her earnings a bit, thereby improving living conditions for her family. She also hopes to invest more to expand the area of her cultivations, and to achieve some other goals. This is the first loan that she has received from FUDECOSUR. She had not taken prior loans with the state banks, but FUDECOSUR has provided her with a loan with easier terms and a much lower rate of interest.
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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