With his loan, he would like to purchase fertilizers and fungicides, and pay for labor for tending the coffee crop. He would also like to buy some copperwood plants to replant at the beginning of the rainy season. This is to increase the density of plants, in addition to taking advantage of the good soil fertility and climatic and other conditions that favor the coffee crop.
With these improvements to the crop, he hopes to earn a little more money and thus be able to continue studying and improving his family's living conditions. He would also like to invest a little more in the crop and also achieve some goals.
This is the first loan he has received from FUDECOSUR. He has not had previous loans with state banks, but FUDECOSUR has offered him 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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