He intends to use this loan to purchase coffee seedlings that are appropriate for his area. He will ensure that they are healthy and of a good size so that they will develop optimally. He will plant at the start of the rainy season. His goals are to increase the density of plants in his fields, and also to take advantage of the fertile soil and climatic conditions that are favorable for the cultivation of coffee.
With these improvements, he hopes to be able to make a little profit and thus be able to improve his family's quality of life. He will also invest a little more in his fields and be able to complete some other goals as well. This is his first loan through FUDECOSUR. He has not taken any loans from state banks, but FUDECOSUR has brought him this loan opportunity with greater ease and at much lower rates of interest.
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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