She hopes to give her family a better quality of life and greater economic stability in the future. As well, she wants to be able to continue growing as a person and a producer. This is the first loan she has received from FUDECOSUR. She had never applied for other loans previously from state banks, however FUDECOSUR made this loan to her with greater ease and at a much lower interest rate.
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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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