He intends to use the loan to buy fertilizers, other chemical products, and seeds. He will also pay for the labor to sow and tend to the plants. This way he will make sure that he does a good job.
He is trying to take advantage of the good climate and soil conditions that he has for this crop. He will also put into practice his several years of experience managing these plants.
In addition to being able to buy the best products and the best quality for his plants, they will develop well, and they will be healthy. He will have a suitable production in the short term.
He will use the income from the harvest that he hopes to have for his family’s well-being. He will also meet some family goals and continue investing more in the crops.
This is his first loan from FUDECOSUR. He had no previous loans with state banks but FUDECOSUR gave the 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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