Alexander, 22 years of age, is in a common-law marriage. He lives with his wife and son, who are his highest priority. With his loan he intends to carry out repairs to one part of his house, since over time it has deteriorated to the point that water penetrates it when it rains, and the family's belongings get wet. What he intends is to take advantage of low prices and sales on good-quality construction materials and carry out the necessary repairs. With the improvements he plans, he wants to avoid more losses of belongings, and thus have a little saving for the increased well-being of his family. Thus they will spend the last days of the year with greater peace of mind and begin 2013 with better living conditions and a more positive outlook. This is the first loan he has received from FUDECOSUR. He has not had other loans in the past from state banks, but FUDECOSUR provided the loan for him with better terms and a much lower interest rate.
Alexander, tiene la edad de 22 años, está en unión libre, vive con su hijo y esposa, los cuales son su mayor prioridad. Con su crédito pretende hacer la reparación en una parte de la casa ya que debido al paso del tiempo se ha deteriorado al punto que se penetra el agua cuando llueve y se mojan las pertenencias. Lo que pretende es aprovechar los precios bajos y ofertas en los materiales de construcción de buena calidad y hacer las reparaciones necesarias. Con las mejoras que pretende hacer quiere evitar la más pérdida de pertenencias y así tener un poco de ahorro para el mejor bienestar de su familia y pasar un fin de año con más tranquilidad y comenzar el 2013 con mejores condiciones de vida y positivismo. Es el primer préstamo que recibido de FUDECOSUR. 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.
About Housing Loans
Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.