He requested a loan to buy supplies such as fertilizer and fumigant. He wants to care for his coffee crops to keep them in good condition as they grow, so he gets a good-quality and viable crop when it comes time to sell.
With a lot of effort and sacrifice, this farmer has managed to focus on his plan up to the present and, thanks to his dedication, he has had a favorable response, one of the best in the area. This man's only limitation is the lack of money to continue growing and making his entire family happy, because they depend on his job to be able to get ahead. This is why he's applying for a loan.
This is his first loan from FUDECOSUR. He had not had previous loans from state banks, but FUDECOSUR has 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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