Marina has a business selling various catalogue products in her community; she has been involved in this line of work for the past twenty years. Going door to door, she offers potential clients the opportunity to browse a magazine full of a range of retail products, from portable barbecues, to clothing items. She plans to use this loan to increase her working capital and to purchase products for resale.
Marina is an experienced client of Fundacion Mujer. She has been approved for numerous loans in the past and has a proven track record of punctual repayments. The loan consultant that has been working with Marina most recently describes her as a responsible entrepreneurial and an excellent client overall.
Marina would like to be able to put on a bazaar in her house where potential clients with various desires could come and peruse the products she has to offer. Another goal is to earn enough income and savings to purchase her own house. Marina says the fact that she does not own her house is an obstacle in her life.
For this loan, Marina is applying for a relatively small amount because she is afraid of holding large amounts of debt that she might not be able to repay.
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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.
About Fundacion Mujer:Fundación Mujer is an organization specializing in the financial and personal development of female entrepreneurs in Costa Rica. They seek to reach underserved populations that may include indigenous communities, immigrants, refugees, victims of domestic violence or women living with HIV/AIDS. Fundación Mujer offers courses in both business and personal development, as well as training in concrete skills such as sewing and other crafts.
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