The Women's Bank Of Entrepreneurs Of Chilamate (2) Group
Iris A. L. is a 50-year-old mother of five who has a business sewing curtains, bedsheets and drapes; she also sells catalogue items from door to door in her community. Her highest level of formal education attained is the completion of primary school. She will use this loan to purchase household and beauty products to sell. Her goal is to use this loan to seek out new clients; Iris wants her business to grow so she can bring prosperity and support to her family.
Deilyn U. B. is a 26-year-old mother of two. Deilyn has a business selling hand-made clothes such as women's underwear and pyjamas. She also uses hydroponic technology to produce cabbage and lettuce for personal consumption and for sale. She started her clothes sewing and selling business with an initial investment of 10,000 colons. Deilyn will use this loan to equally develop both of her projects. Every day, she sews from 2 until 5 in the afternoon; for this she will need to purchase thread, needles, and maintain her two sewing machines. Otherwise, Deilyn will be using her loan to invest in the nutritional elements necessary to the production of healthy lettuce and cabbage. Since the lettuce is especially sensitive, she would like to invest in a protective material that limits the amount of sunlight to the lettuce leaves. Deilyn says that she hopes by joining this group, she will be surrounded by companions who work in cooperation.
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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