With the loan, he is going to buy inputs such as compost, insecticides, and herbicides necessary to plant and tend to his crops. He has made his living in this way for many years now, and hopes to be able to maintain his plantations in good condition in order to get better earnings this year, since the prices are staying very good.
He hopes to be able to offer his family a better quality of life and at the same time, generate better finances for his home.
This is the first loan that he has received from FUDECOSUR. He hadn't had loans before in state banks, but FUDECOSUR has provided him with the loan with greater ease and 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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This loan has been fully funded!