Banco Mujer Mâmârkua Group
The Mâmârkua Women come from a culture that values and praises the elements of nature as well as the wisdom of elders. The word “mâmârkua” signifies “flower” in their native language. Elizabeth, Lidiana and Elidieth are applying for loans of 200,000 colons each.
Indigenous rural areas such as Suretka are characterized by many difficulties such as a lack of job opportunities, infrastructural deficiencies, low levels of formal education and lack of available financial services.
The Mâmârkua Women have adapted to their challenging situation through a communal initiative to create work for themselves by engaging in the cultivation and sale of plantains (similar to a banana but green and mainly used for cooking - a staple food in the region). For the group members, the responsibility of raising a family has fallen on their shoulders alone, rendering the revenue generated from plantain sales a vital source of income. Despite their entrepreneurial spirit, their efforts have been hamstrung, partly due to exclusion from the traditional banking system. This is where you, through Kiva’s lending model, can help.
Each woman has been allocated a parcel of land by the Costa Rican government, in Suretka, a region located in the province of Limon. The women use this land for the growing of plantains as well as other subsistence crops. An intermediary distributor comes to the rural village once a week to purchase plantains from the women. In a good month, each woman can earn up to 70,000 colons. The distributor sells the plantains in the closest large city, Limon. The plantains require nine months to reach maturity (one complete cycle).
The close proximity of the Suretka region to a river has resulted in a major challenge for the group. Every year, the women must cope with the inundation of their plantain crops during the rainy season. In these months, the river rises and drowns an unpredictable number of the agricultural crops which are the source of livelihood for the Mâmârkua Women and their families.
To surmount the seasonal obstacle of the rising river, the women have decided to expand their fields of cultivation to areas further away from the water. Although this may seem a simple solution, the land is a jungle, ridden with trees and undesirable weeds that need to be cleared before anything new can be planted. The women lack the resources (labour, tools) to take on this work themselves. Your loan will enable the Mâmârkua women to clear and use their land more effectively. By providing capital, the group members will be able to invest in necessary resources to clear new areas of their land for harvest at a safer distance from the rising river.
The credit consultant who has been working with The Women´s Bank of Mâmârkua over the past two years compliments the group on their punctual repayments as well as on their responsible and organized nature. Your loan is a direct investment in the betterment of the lives of women living in a poor community of Caribbean Costa Rica. By lending to these proactive and hardworking entrepreneurs, you are enabling them to help themselves.
More information about this loan
In Costa Rica, funding for microfinance institutions is hard to come by, and many institutions find themselves having difficulty growing and reaching all the demand for loans that exist. Kiva works with Fundacion Mujer because it attends a very marginalized population in Costa Rica, with a specific focus on women. In addition to the loan, Fundacion Mujer provides specialized training programs for their borrowers on everything from computer classes to salon training. Because of the difficulty in obtaining capital in Costa Rica, Fundacion Mujer cannot serve all the women that need loans. Therefore Kiva plays a unique role in helping Fundacion Mujer grow its portfolio and reach borrowers it otherwise would not be able to.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid