He works as a local mechanic and his means of transport to provide service as a mechanic is having some problems so he decided to apply to the Fundación for help. He hopes with this improvement to be able to continue to provide home service or wherever else it’s required. What he wants is to increase his clientele and to keep it satisfied with his work and service provided to earn higher income at the same time for his family’s well-being.
This is his second loan from Fudecosur. He’d had no previous loans with state banks but Fudecosur offered the best terms and a much lower interest rate.
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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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