Domingo is 65 years old, married, and lives with his wife. He would like to buy 4,000 coffee plants and supplies so that he can sow on a plantation that he owns. He has been working on his plantation for for several years and would like to grow his business. He would also like his plantation to be very productive. This is the second loan that Domingo has received from FUDECOSUR. He has not received other loans from State banks or co-operatives but FUDECOSUR have given him loans with better terms and much lower interest rates. He would like to improve his financial situation, produce more on his plantation, and be able to save up for his future.
Domingo, tiene la edad de 65 años, es casado y vive con su esposa. El quiere comprar 4000 plantas de café e insumos para Sembrar en finca de de su propiedad. Tiene varios años que se dedica a su finca y quiere crecer y también desea que su finca sea muy productiva. Es el segundo préstamo que ha recibido de FUDECOSUR. No ha realizado otros préstamos en bancos estatales o Cooperativas, pero FUDECOSUR le brindó el préstamo con mayores facilidades y la tasa de interés es mucho más baja. El también tiene el deseo de mejorar su situación económica poniendo a producir más su finca y poder hacer un ahorro para su futuro.
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.
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.