With her loan, she would like to purchase some tools and equipment to make cakes and breads better, as well as raw ingredients. With these purchases, she hopes to have a better production and greater quantity, in order to offer the members of the neighboring communities a better quality product. She also hopes to earn a little more money and thus improve her family's living conditions, invest a little more in the area of pastries and also reach some goals.
This is the first loan that she has received from FUDECOSUR. She has never had other loans from state banks, but FUDECOSUR has offered her the loan with greater ease and with much lower interest rates.
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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