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Luis
Luis Antonio is 20 years old. He is single and lives with his parents and brothers, who are older. With his loan, he intends to buy equipment to prepare wood to make furniture which will make the development of wood easier so he can increase the amount of furniture made and use the knowledge gained in training to have income to continue to invest in the purchase of wood and other products and also to achieve a better finish to the furniture made and expand the quantity and quality of pieces. With this purchase, he intends to make more furniture with more varied designs and fulfill the orders in the short term. This is the first loan he has received from Fudecosur. He has not had other loans from state banks before but Fudecosur has provided the loan with greater ease and a much lower interest rate.
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Luis Antonio, tiene la edad de 20 años, está soltero, vive con sus padres y hermanos, los cuales son su mayor prioridad. Con su crédito pretende hacer la compra de equipo para la preparación de madera para hacer muebles, la cual le facilitará la elaboración de madera y así poder aumentar la cantidad de muebles realizados y aprovechar el conocimiento adquirido en capacitaciones y poder tener ingresos económicos para seguir invirtiendo en la compra de madera y otras productos, y también lograr un mejor acabado a los muebles fabricados, además de aumentar la cantidad y calidad de piezas. Con esta compra pretende hacer más nubles y con diseños más variados y así cumplir con los pedidos a corto plazo. Es el primer préstamo que recibido de FUDECOSUR. El no había tenido antes otros préstamos en bancos estatales, pero FUDECOSUR le ha brindado el préstamo con mayores facilidades y la tasa de intereses mucho más baja.

Additional Information

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.

About Costa Rica

  • $11,100
    Average annual income
  • 7
    View loans »
    Costa Rica Loans Fundraising
  • $3,978,825
    Funds lent in using Kiva
  • 502.4
    Costa Rica Colones (CRC) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $1,000 helped Luis to buy sawmill equipment.
33% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
May 20, 2013
Listed
May 31, 2013
Currency Exchange Loss:
Possible