The Women´s Bank Of United Growth (Banco Mujer Creciendo Juntas) Group
The members of this group are involved in various income-generating activities including sewing, animal rearing (chickens, cows and pigs) as well as the harvesting of plantains, rice and watermelons. This loan will be used generally by the members to invest in the growth of their individual productive activities. The women involved in animal rearing plan to use this loan to purchase livestock and animal feed.
The women of this group are able to contribute significantly to their family incomes as a result of the earnings generated from their productive activities. This income is supplemented by salaries earned by the men in their families who work as laborers in the pineapple and banana fields of Aguas Frías.
The women have expressed great concern for the environmental devastation to the community river and health problems that their husbands and sons have developed as a result of working for the employer who owns the land. Respiratory problems, infertility and skin ailments are listed by the women of this group as common side effects of men laboring in the fields. The women attribute these negative effects to the fact that the employer provides faulty equipment, and the men are required to work with heavy, toxic chemicals in places with little or no shade. For the residents of this community, there are few employment opportunities. This daily reality describes the struggle that these women must cope with.
Edel S. F. has a sewing business and an agricultural business. She will use this loan primarily to invest in her agriculture business by purchasing watermelon, rice and squash seeds as well as agricultural nutrients. The loan will also be used to invest in the purchase of materials for making clothes which will enable her to produce more sewing products. Edel says she operates on a per order basis, her clients request a certain type of product whether it be men’s, women’s, or children’s clothing and she produces it within a given period.
Edel’s goals are to produce more, both agriculturally and in her sewing activity. She hopes to expand both businesses and increase her income. She says her main obstacle is access to working capital and this loan will help to address this challenge. Another obstacle for Edel is the fact that her sewing machine is very old and doesn’t work very well. It breaks down often, at which times she must hire a mechanic to come and repair it.
The members of this group have known each other for over ten years. They say that they prefer the group lending model to the individual lending model because, as a group, they can support each other and learn from one another.
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