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Erick
Erick is 21 years old, married, and lives with his wife and two children. He would like this loan in order to buy coffee seedlings for replanting his coffee plantation, which is a bit damaged. He would also like to buy supplies like fertilizer and fumigants. He would like to perform adequate maintenance for his crops and to replant the damaged parts. This would allow him to improve his production and thereby increase his income. Erick has been working with coffee for several years. He hopes that in the future he will be able to offer his family a better quality of life and greater economic stability, and to continue growing as a person and as a producer. This is the first loan he has received through FUDECOSUR. He has not had loans from state banks either, but FUDECOSUR offered him a loan with better terms and a much lower interest rate.
View original language description ↓
Erick tiene la edad de 21 años, está casado y vive con la esposa y dos hijos. El crédito lo quiere para la compra almacigo de café para resembrar la plantación de café, que está un poco dañada y además quiere comprar insumos como abono y fumigaciones. El desea darle el adecuado mantenimiento al cultivo y resembrar las partes dañadas para que este le permita tener una mayor producción y así tener mayores ingresos económicos. El trabaja desde hace varios años en café. El espera en un futuro brindarle a su familia una mejor calidad de vida y una mayor estabilidad económica, y poder seguir creciendo como persona y como productor. . Es el primer préstamo que recibido de FUDECOSUR. El no había tenido antes otros préstamos en bancos estatales, pero FUDECOSUR le ha brindado el préstamo con mayores facilidades y la tasa de intereses mucho más baja.

Additional Information

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.

About Costa Rica

  • $12,900
    Average annual income
  • 38
    View loans »
    Costa Rica Loans Fundraising
  • $4,441,500
    Funds lent in using Kiva
  • 501.6
    Costa Rica Colones (CRC) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,000 helped Erick to buy coffee seedlings and agricultural supplies.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Jan 14, 2013
Listed
Feb 7, 2013
Currency Exchange Loss:
Possible
Ended:
Nov 29, 2014