Zoila runs a store out of her home. As you can see in the picture, she has a window that opens onto the street which is used to interact with customers. Zoila sells all kinds of products including plantains, milk, soft drinks, candies, etc. She hopes to use this loan to finance the purchase of diverse merchandise (including the products listed above) in order to fill her store and attract more customers.
Zoila travels three times a week to the market in order to stock up on inventory. On these days, she must wake up at 3:00 AM in order to make a trip to the market and open her store by 6:00 AM. Zoila takes a lunch break at 12:30 PM until her niece arrives at 1:00 PM. At this point, her niece carries out domestic tasks while Zoila continues with the business of running the store. Zoila closes the store at 8:00 PM.
Zoila´s main obstacle is a lack of access to working capital. She hopes this loan will help her to increase capital and finance the purchase of more items to sell in her store.
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.
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Success!! The loan was 100% repaid