With his loan, he will buy fertilizers, fungicide, and pay laborers to help with the coffee. He will also be able to buy seedling plants in order to replant and thereby increase the plant density in the area. He will be able to furthermore take advantage of the fertile ground, climate, and other conditions that favor the cultivation of coffee.
With these improvements to his crop, he hopes to obtain profits and thereby improve the life conditions of his family. He also hopes to invest a bit more in his crop land and to also meet some of his goals.
This is the second loan he has received through FUDECOSUR. He had not had other loans previously in state banks, but FUDECOSUR offered him a loan with greater ease and at 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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Success!! The loan was 100% repaid