With the loan, she hopes to buy supplies such as manure, pesticides, and, in turn, help her with the labor. She is thinking of maintaining the plantations so that they are not harmed and do not lower their production. With her coffee-growing project she can earn more income to support her family.
She has a small amount of money, but not enough for this purchase nor the contracts. For this reason and no means to get the money for it, she is requesting a loan. It is the first loan that she has received from FUDECOSUR. She has never had any other loans from other state banks, but FUDECOSUR has given her a loan with great 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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