With this purchase he will be able to develop this activity and have savings that will allow him to buy more and more animals and invest more in the project, and at the same time have more income for his family.
This is the first loan that he has received from FUDECOSUR. He hasn’t received other loans in the past from state banks, and FUDECOSUR has given him the loan with better terms and a much lower interest rate that he would have received from other institutions.
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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This loan has been fully funded!