With his loan he will buy groceries for his local store, and in this way will be able to offer the customers a greater quantity of products and of high quality. With this purchase he hopes to have better profits, to invest more in his local store, and reach his goals that in the future he will increase the quality of life for him and his family.
This is the first loan he received from FUDECOSUR. He hasn't have other loans in state banks before, but FUDECOSUR brought him the loan with better facilities and a much 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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