Ileana plans to make the most of the good weather and soil that she has for this sowing season. She will put into practice the experience that she has gained from several years growing basic grains. She will be able to buy better quality products so that her crops grow in a healthy manner. This will provide her with a decent yield in the short term.
Ileana plans to spend the income that she makes from her future harvest on her family's well-being and education, and to fulfill some family goals. She will also continue investing in her crops. This is the first loan that Ileana has received from FUDECOSUR. She hasn't received any previous loans from state banks but FUDECOSUR have offered her this loan with better terms 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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Success!! The loan was 100% repaid