With the money from this loan he wants to buy supplies such as compost and herbicides for his coffee plantation.
The land has already been planted and is ready for harvesting and currently he has a section which needs looking after. He wants to make improvements to his coffee plantation and with this loan to gain a better quality of crops in order to have a better return from the harvest.
He hopes to make the maximum profits for his wellbeing and that of his family and to improve his economic stability each day.
This is the first loan that he has received from FUDECOSUR. He has not had other loans before in state banks, but FUDECOSUR has given a loan with better terms and the rate of interest is much lower.
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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Success!! The loan was 100% repaid