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Aug 12, 2016 11:35 EST

Costa Rica – Luis Eduardo: A loan of $1,825 helps buy supplies for growing coffee.

iCrowdNewswire - Aug 12, 2016

Luis Eduardo

Costa Rica
 
 
Borrower image

Luis Eduardo’s story

Luis Eduardo, 40, is single and is currently living with his mother. He would like the loan to buy plants and fertilizers for a coffee plantation. He wants to tend the crop so it will have improved production and his income will grow. He hopes to provide his family with a better standard of living and financial stability, and he wants to continue to grow as a person and as a planter. This is the second loan he has received from FUDECOSUR. He had never gotten a loan from a state bank before, but FUDECOSUR has provided him with loans more easily, and the interest rates are much lower. 

Show previous loan details

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Translated from Spanish by Kiva volunteer Diane StockwellView original language description 

This loan is special because:

It reaches rural borrowers that are considered too risky for traditional banks. 

Juan
Kiva staff 

More 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 atfudecosur.org.

A loan of $1,825 helps buy supplies for growing coffee.

Contact Information:

Luis Eduardo

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