He is starting this new project and hopes that it will go very well and that he will be able to provide a good employment option for many people in his community as labor. At the same time he hopes to make a good profit from the project, and so improve his financial position and continue to strengthen his finances into the future. He hopes to be able to provide his family with a better quality of life and to help them do well in everything.
This is the first loan that he has received from FUDECOSUR. He had not previously received other loans from state banks, but FUDECOSUR has offered him this 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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