Freddy plans to make the most of the good weather and soil conditions in his area to grow his crops. He will also put into practice the several years of experience which he has growing basic grains. He would like to be able to buy the best quality products he can so that his crops grow strong and healthy and he obtains a decent harvest and good short-term production. He will use the income he hopes to make from his harvest to provide for his family's well-being and education, as well as achieving some family goals and continuing to invest in his crops.
This is the first loan that Freddy has received from FUDECOSUR. He has not received any previous loans from state banks. FUDECOSUR have given him this loan with better terms and a much lower interest rate.
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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