He requested a loan to buy supplies such as soil amendments and fumigants. He wants to take care of his bean crops to keep them in good condition while they grow so he'll get a good harvest.
Esterlito's only limitation is the lack of money to continue growing. They count on this job to get ahead, which is why he's applying for a loan.
This is his first loan from FUDECOSUR. He hasn't had other loans with state banks, but FUDECOSUR has offered him a 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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