He currently requested a loan to buy supplies like manure and fumigants. He wants to help his coffee crops in order to keep them in good condition during the harvest. He will do this in order to get a good quality product.
The only limitation that this gentleman has is the lack of money to continue growing. They are dependent upon this business activity in order to be able to get ahead. That is why he is making this loan request.
It is the first loan he has received from FUDECOSUR. He does not have other loans in state banks. FUDECOSUR has given him the 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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