He has applied for a loan of one million Costa Rican colones to buy corn and bean seeds. He also needs to buy insecticides, fungicides, pesticides, and granular fertilizer to maintain his harvest and obtain products of good quality, since his income depends on this activity. Rafael is grateful for the financial opportunity which he has been offered.
More information about this loan
As a small and relatively young MFI located in Costa Rica, EDESA has difficulty attracting other sources of capital. Many other microfinance funders do not work in Costa Rica, because overall the country is too rich. However, organizations such as EDESA work with extremely marginalized populations in Costa Rica that really need the access to capital that EDESA provides. By funding EDESA, Kiva lenders are allowing the organization to grow and reach more people than they otherwise would be able to reach.
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Success!! The loan was 100% repaid