With the loan he hopes to buy two dairy cows, so that he can gain the best profit possible with the different products. He hopes to be able to sell products like milk and cheese, and even some sour cream. He wants to be able to increase his income with this new project, and so be able to increase his profits, for his own wellbeing and that of his family, and to develop his dairy cattle project.
This is the first loan that he has received from FUDECOSUR. He had not had other loans before from state banks, but FUDECOSUR has provided him a loan with more simplicity and with 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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