With the loan, he wants to purchase cows for raising and milk. He wants to slightly increase his amount of animals to have the chance to sell more offspring. He and his family have been dedicated to the cultivation of basic grains supplemented by animal husbandry.
This is the first loan he has received from FUDECOSUR. He has not had loans before this at state banks, but FUDECOSUR has given him a loan more easily and with lower interest rates.
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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