With the loan he's going to make improvements on his motorcycle to facilitate his transportation to work and have all the requirements for traveling on the public streets. He wants to make these improvements because his motorcycle is for getting to his job. His goal is to be able to drive through the public streets without any problem and get himself to his job easily so he can continue supporting his household.
This is his first loan from FUDECOSUR. Previously 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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