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The Women´s Bank In Search Of Success (Banco Mujer En Busca Del Éxito) Group
In this Group: Idalie, Jaidy, Maria Betty, Alicia, Aida Luz, Lidieth, Flor Mº
This group's name translates as ¨The Women´s Bank in Search of Success¨(Banco Mujer en Busca del Éxito). The 7 group members live in Pococi, Limon, a rural region located near the Caribbean coast of Costa Rica. The women in this group are involved in various entrepreneurial productive activities including: clothing and jewellery sales as well as sewing and bread-making (and selling). This loan will be used to make general investments conducive to the expansion of business activities by purchasing clothing, jewellery, and materials necessary for bread-making and sewing clothes. The group members engaged in clothing sales contact suppliers, make clothing purchases and sell clothes to members of the Pococi community. The other members produce clothing and bread in their homes to sell at a later date.

Some of the members engaged in bread-making aspire to one day open their own bakery. In general the group hopes this loan will assist them in improving their standard of living; specifically, the members would like to be able to invest in a higher level of education. A main obstacle for the members of this group has been the lack of available financial services in their community. This loan will extend the reach of business loans to a group of hard-working entrepreneurs living in a poor Costa Rican community.

The Women´s Bank in Search of Success was formed in July of 2009. This loan will be the group's second with Fundación Mujer. The loan consultant who has been working with the group members over the past 7 months describes these women as hard-working, entrepreneurial-minded individuals who aspire to improve living conditions for themselves and their families. The women work together well and have exhibited responsibility and punctuality with respect to past loans.

In general, there is ample demand for the products sold by the women of this group. The members have successfully used their first loan to build their client base. They are happy and excited to now be applying for a larger loan amount than they have in the past.

For the members, the name of this group symbolizes the possibility of succeeding in life and the goal of becoming self-sufficient.

Additional Information

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.

About Costa Rica

  • $11,100
    Average annual income
  • 39
    View loans »
    Costa Rica Loans Fundraising
  • $4,168,700
    Funds lent in using Kiva
  • 553.7
    Costa Rica Colones (CRC) = $1 USD

Success!! The loan was 100% repaid

A portion of The Women´s Bank In Search Of Success (Banco Mujer En Busca Del Éxito) Group's $2,550 loan helped a member for the purchase of raw materials needed for bread-making, sewing, and to purchase clothing and jewellery.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 17, 2010
Listed
Feb 23, 2010
Currency Exchange Loss:
Possible
Ended:
Mar 25, 2011