She plans to use the loan to purchase corn seeds which are of good quality, have a high germination rate, and which grow well in varying climate and soil conditions. She would also purchase fertilizers and other products to use at planting time, and pay for the manual labor needed during planting, application of fertilizers and other products, and once the crop is ready. This will allow her to do the job well.
Lauren would like to take advantage of the good climate conditions and soil in this area, and wants to put into practice several years of experience handling basic grains. She would like to be able to buy the best quality products so that she can cultivate her field well and have a good harvest. In the short term, she would like a significant output.
Lauren hopes to use the income from the crop to ensure the well-being and education of her family, fulfill some familial obligations, and continue investing in farming.
This is the first loan that Lauren is receiving from FUDECOSUR. She has never had other loans from state banks, but FUDECOSUR has given her the loan without any difficulty and with a 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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