With his loan he plans to buy fertilizer and other products to start preparing his plot of land so his farm can make better progress and produce better. He also will pay for labor for applying the products and tending to the farm. This way he'll be assured of doing a good job.
What he plans to do is make the most of the good climate and soil conditions for this crop, as well as put into practice his several years of experience managing basic grains. He also will be able to buy the best-quality products to have everything ready on time for the beginning of the rainy season to do the planting, to have a healthy crop that develops well and yields a suitable crop in the short term.
He'll use the income he hopes to receive from the harvest for his family's well-being and studies, and to fulfill some family goals and continue investing more in the crops.
This is his first loan from FUDECOSUR. He had not 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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