With his loan he plans to buy fertilizer and fungicide and to pay for labor to prepare the coffee. He also wants to buy some seedlings to replant and increase the plant density in the area, as well as make the most of the soil fertility and climate and other conditions that favor coffee production.
With these improvements to his crop he hopes to get some profits in the next harvests. This way he can improve his family's living conditions as well as invest more in the crop and also achieve some goals.
This is his first loan from FUDECOSUR. Previously, he had not had other loans from state banks, but FUDECOSUR offered him 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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