Laura is a hardworking entrepreneur. She is open for business every day from 8 in the morning until 7 at night. She organizes her day by waking up early and sending the children to school in the morning. The rest of her day is dedicated to her business. In her spare time, Laura repairs clothing.
Laura has applied for the current loan in an effort to increase the variety of products she can offer to her customers. An increase in working capital will allow Laura to invest in her stock of items in an effort to increase sales levels. Laura´s goals are to be successful in her business so that she can afford to keep her children in school. Specifically, she hopes to secure enough capital to keep her business afloat. Laura aims to ensure that her children complete as much schooling as possible.
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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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