With his loan he plans to buy fertilizer and fungicide, pay for labor to help with the coffee crop, and buy some seedlings to replant so he can increase the density of plants in the field. He also wants to make the most of the good soil fertility as well as climate and other conditions that favor coffee production.
Roque hopes to earn some more profit and improve his family's living conditions with these improvements. He also wants to invest a little more in the crop as well as achieve some goals.
This is Roque's first loan from FUDECOSUR. He hadn't had previous loans from state banks, but FUDECOSUR 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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