With this loan he plans to buy fertilizers and other products which he can use on his crops and therefore have a good harvest. He wants frijol bean seeds of good quality which will adapt to the soil that he uses and the local climate. He also needs to pay labor costs for treating his plantations, which will ensure that he can do his job effectively.
He wants to take advantage of the good climate and the soil he has in this area and also put into practice what he has learnt over the past few years growing basic grains. Apart from buying the best products for his plantations, he wants to see his crops develop and be healthy.
With the income he generates he would like to use it on his family and on its education. He would also like to fulfil a few other family goals and continue to invest in his crops.
This is the first loan he has received from FUDECOSUR. He hasn't had any other loans from state banks, but FUDECOSUR has given him the opportunity by making the conditions much easier and the interest rates lower.
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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