Donald is 29 years old, is in a common law marriage, and lives with his wife and children, all of whom are his highest priority. He will use the money from this loan to make repairs to part of his home because it leaks when it rains. He also wants to make a space for one of his sons so that he can sleep better. He wants to take advantage of the low prices and sales on quality building materials to make the necessary repairs. He is expecting to provide better stability and wellbeing for his family, spend the New Year in peace, and begin 2013 with better living conditions and hope. This will be his first loan through FUDECOSUR. He has not had previous loans with state banks, but FUDECOSUR provided a loan with simpler conditions and at a lower interest rate.
Donald, tiene la edad de 29 años, está en unión libre, vive con sus hijos y señora los cuales son su mayor prioridad. Con su crédito pretende hacer la reparación en una parte de la casa ya que cuando llueve el agua se le mete adentro de la vivienda y adicionalmente hacer un espacio para uno de sus hijos pueda dormir más adecuadamente. Lo que pretende es aprovechar los precios bajos y ofertas en los materiales de construcción de buena calidad y hacer las reparaciones necesarias. Con las mejoras que pretende hacer quiere buscar una mejor estabilidad y bienestar para su familia y pasar un fin de año con más tranquilidad y comenzar el 2013 con mejores condiciones de vida y positivismo. Es el primer préstamo que recibido de FUDECOSUR. No había tenido antes otros préstamos en bancos estatales, pero FUDECOSUR le ha brindado el préstamo con mayores facilidades y la tasa de intereses mucho más baja.
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.
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.
About Housing Loans
Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.