With the loan, he intends to purchase cattle to raise and fatten for later sale. He currently has a piece of land suitable for this project in which he is looking to invest.
He has as his goal to generate the maximum advantage from his land and be able to fatten up his animals as quickly as possible. In this way he will be able to sell them at the local market, generating earnings for his family's well-being and his financial stability.
This is the first loan that he has received from FUDECOSUR. He hasn't taken any other loans from the state banks, but FUDECOSUR offered him a loan with better terms 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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