With his loan he intends to buy copperwood plants which give a good return and pay a coffee worker so that he can resow at the start of the rainy season. His objective is to increase the density of plants in the area and make the most of the fertile land and good climatic conditions that favour coffee cultivation.
With these improvements, he hopes to obtain some profits and improve his family's living conditions as well as invest a little more in cultivation and in meeting some goals.
This is the first loan that he has received from FUDECOSUR. He has never had any bank loans before but FUDECOSUR has allowed him easy access to the loan and the interest rates are very low.
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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This loan has been fully funded!