With the loan he plans to buy the supplies he needs for planting corn.
He has a small farm that he needs to take care of so he can improve his living conditions and his efficiency for the harvest, so he decided to fertilize it. He plans to get the most out of his profits from the planting with the harvest, so he'll be able to get ahead with the loan payments and give his family a better quality of life in the future.
This is his third loan from FUDECOSUR. He hadn't had other loans from state banks, but FUDECOSUR offered him a loan with better terms and 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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