Luis Ángel is 42 years old and married. He lives with his wife and two children. With this loan he intends to purchase a machine to remove weeds from his coffee plantation as well as supplies like fertilizer and fumigants and help from a labor force. He plans to buy a machine so he can have weed-free coffee and use the supplies to have it in excellent condition so that he will generate more income and obtain a better quality of life and economic stability.
This is Luis’ first loan from FUDECOSUR. He has not had other loans from state banks, but FUDECOSUR has provided this loan more easily and at a much lower interest rate.
Luis Ángel, tiene la edad de 42 años, está casado, vive con su esposa y dos hijos actualmente. El con el crédito pretende comprar una máquina para quitar la maleza del cafetal y además insumos como abonos y fumigaciones y ayudarse con la mano de obra. El tiene pensado comprar esta máquina para tener el cafetal libre de maleza y con los insumos tenerlo en excelentes condiciones y poder generar más ganancias y obtener una mejor calidad de vida y una estabilidad económica. Es el primer préstamo que recibido de FUDECOSUR. El no había tenido antes otros préstamos en bancos estatales, pero FUDECOSUR le ha brindado el préstamo con mayores facilidades y la tasa de intereses mucho más baja.
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.