His objective for doing so is to increase the density of plants in the area. He will also take advantage of the good, fertile soil, the climate, and other conditions that are favorable for growing coffee. With these crop improvements, he hopes to get a little profit and, in this way, improve his family’s living conditions. He will also invest a little more in the area that he cultivates and fulfill some goals.
This is the first loan he has received from FUDECOSUR. He has not had any previous loan with state banks. FUDECOSUR has offered him the 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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Success!! The loan was 100% repaid