With his loan he plans to buy wire to repair fences and grass seed to have a lot of grass in his pastures and a better yield. He also will buy some calves to fatten. He plans to take advantage of low prices on some good-quality calves.
With these improvements to his pasture and the purchase of new calves, he hopes to get more income, improve his family's living conditions, and have greater personal improvement. He also hopes to invest more in his job and be more competitive to make the most of the advantages of the good conditions of his property for livestock.
This is the first loan he has received from FUDECOSUR. He had not had previous loans in 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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Success!! The loan was 100% repaid