The Women's Bank Of Entrepreneurs Of Chilamate Group
Their special bond has developed because the members of the group have been neighbours all their lives, and thus know each other on a very deep and personal level. The positive experience that this group has had throughout the duration of their first loan has inspired new members to join the group. This will be the group's second loan with Fundacion Mujer; the first loan was paid back on time and in full. The loan officer who has been working with this group commends the members on their strong history of punctual repayments.
Socorro P. V. is experienced in sales. Every day, she makes “pan” a type of bread that she sells fresh to her neighbours and others in her community. Socorro also sews women's clothes (underwear and blouses) which she sells on the weekends in Guapiles. She travels by bus with her clothing products, taking a combination of 3 buses. Guapiles, in the Carribean region of Costa Rica, is roughly 2 hours away. Socorro has lived in Poas her entire life. At the age of 54 she is one of the eldest in the group, and she takes pride in the level of trust that has always existed in her community. “There is no trouble,” she says, “if anyone makes trouble it’s because they come from outside of our community.” Her enthusiasm for life is inspiring; she says that every day is a gift.
Angela R. L. is the elected president of the group. She is 57 years old and has 8 children. Angela has a business sewing and selling clothes such as pants for men and women, children’s clothing, shirts, and pyjamas. She also sews quilts and other types of bedding.
Yorleny M. P. raises chickens and then sells the eggs they lay. She is 34 years old and lives with her four children. With her first loan, she made the mistake of buying the wrong feed for her chicks, so they ended up too fat to lay eggs. As a result, she has sold these chickens and plans to use this second loan to purchase the correct feed so that she might have some chickens that lay eggs. Yorleny has thankfully maintained a good sense of humour regarding her mistake.
Vera Maria S. Z. is 43 years old and has 3 children. She has a business preparing and selling foods to people in her community. She works out of her home Fridays, Saturdays, and Sundays. Vera makes the majority of her sales in the afternoons and at night. She sells hamburgers, tacos, and 'ceviche' among other products. She says her tacos are the most popular item on the menu.
Laura Espinoza R. is 32 years old. She has one child and her highest level of formal education is the completion of primary school. Laura runs a beauty salon where she employs one other person. She will use this loan to buy hair and beauty products in order to better serve her clients.
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