He wants to buy nursery seeds in order to replant his coffee farm and also to buy some supplies. He says the land needs to be replanted in the damaged areas in order to expand the next crop and to grow as a coffee farmer in the area. He is hoping that with these improvements he can generate a better coffee production and therefore generate earnings so he can move ahead with his project and improve his standard of life.
This is the first loan he has received through FUDECOSUR. He has not had other loans from state banks but FUDECOSUR offered him a loan with better terms and with 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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