Marta has a business selling pet food and animal feed products named ¨Alimentos Rioclaro¨ which translated as Nutrients of Rioclaro. Marta opened her business five years ago with an initial investment of 700,000 colons. In a successful month, she can expect to earn 24,000,000 colons; in a bad month, only 7,500,000. She uses her earnings to re-invest in her business, to pay debts, to cover personal costs and to finance the schooling of her children.
Marta sells feed that benefits various types of animals including dogs, cats, cows, chickens and pigs among others. Every eight days, she travels to San Vito de Coto Brus in order to purchase supplies from the factory. She purchases large bags of feed weighing 23 or 46 kilograms. By separating it into smaller one kilogram bags, she is able to offer her clients a choice to purchase large or small amounts of feed.
Marta´s store is the only authorized distributor in Golfito for products produced by the supplier in San Vito (a relationship which has been guaranteed not to change).
Marta plans to use this loan to pay off outstanding debts she holds with feed suppliers. She hopes to be able to pay off her loan before the end of the term so as to avoid paying some interest charges.
Marta’s goal is to obtain a higher level of freedom in her business through increased amounts of working capital. She also hopes to earn more income as this will improve her family’s standard of living.
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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.
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Success!! The loan was 100% repaid