With the resulting earnings from selling finished wood products, Oscar will continue investing in more wood and equipment, as well as make some improvements to the building he works in. He hopes to be able to pay for his children's education and help his family progress and obtain a better quality of life.
This is Oscar's first loan with FUDECOSUR. Although he has never borrowed from any national banks, FUDECOSUR has offered him this loan with good terms and much 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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This loan has been fully funded!