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Luis
Luis is 59 years old and married. He currently lives with his wife and their three children. When this loan, he intends to purchase supplies such as fertilizers and pesticides, as well as help with the manual labor. He wants to provide maintenance to his crops so that they will not suffer damage or lose production, generating more revenue from his coffee project to contribute to his family. At the moment, he does not have the necessary funds for these purchases or contracts, since he is of low income and he does not have the means to acquire the money needed for this. Therefore, he is requesting this loan which is his first from FUDECOSUR. Prior to this loan, he has never had any loans from national banks, however FUDECOSUR has granted him this loan with great ease and a much lower interest rate.
View original language description ↓
Luis tiene 59 años de edad, esta casado y vive con la esposa y tres hijos actualmente. El con crédito pretende comprar insumos como abonos, fumigantes, y a su vez ayudarse con la mano de obra. El piensa dar mantenimiento a las plantaciones, para que este no sufra ningún daño, y no se pierda la producción, y así con su proyecto cafetalero poder generar más ganancias para contribuir con su familia, el no cuenta con el capital necesario para dicha compra, ni dichos contratos, ya que es de bajos recursos y no tiene como adquirir el dinero necesario para esto, por lo que el solicito un crédito, y es el primer préstamo que ha 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

  • $11,100
    Average annual income
  • 0
    View loans »
    Costa Rica Loans Fundraising
  • $4,023,725
    Funds lent in using Kiva
  • 499.6
    Costa Rica Colones (CRC) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,025 helped Luis to purchase supplies such as fertilizers, pesticides.
33% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Feb 6, 2013
Listed
Mar 7, 2013
Currency Exchange Loss:
Possible