He will use the loan to buy farm supplies like manure and fumigation to improve his coffee crops. He’s worked for several years growing this crop so he feels it’s favorable to give it maintenance in order to improve it. He also wants to repopulate his plantation with new plants in order to increase future crop yields. He hopes his coffee plantation will produce the maximum profits so he can make his payments and improve his economic stability every day.
This is the first loan he’s gotten from Fudecosur. He’s had no previous banks with state banks and Fudecosur has given him the best 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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