Ramón has worked growing coffee for many years. In the future, he hopes to be able to improve his family’s quality of life and give them better financial stability, as well as to continue growing as a person and a coffee producer. This is the first loan that he has received from FUDECOSUR. He had not received any prior loans from the state-run banks, but FUDECOSUR has given him this loan with better repayment facilities and much lower interest rates.
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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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