Errol will use these loan funds to purchase supplies to manage his coffee plantation: manure, pesticides, and fumigation products. Errol's land has produced coffee for several years, but he now needs to make investments in order to achieve maximum yields. Errol's goal is to generate higher income that will provide for his family and ensure a brighter figure. Errol has not borrowed from state-owned banks before. This is his first loan from FUDECOSUR, which has offered him a simpler application process and much lower interest rates.
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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