By making these improvements to his crops, Víctor hopes to earn a bit more profit so that he can improve his family's living conditions. This will also allow him to invest a little more into his farmland and also accomplish a few other goals.
This is the first loan he has received from FUDECOSUR. Víctor has not received any other loans from the state banks. FUDECOSUR is providing this loan with better terms and a 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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This loan has been fully funded!