Lourdes carries out her sewing projects in her home where she has a workshop. She plans to use this loan to invest in threads, fabric, casings and other necessary sewing materials. At the moment, she is behind in production and needs more materials to be able to complete her orders. In general, she wakes up early to carry out domestic tasks such as preparing meals for her family and cleaning the house. Afternoons are dedicated to her business, sewing, selling or collecting payments from clients. Lourdes generally goes to sleep late at night.
A main goal for Lourdes is to become financially independent. She wants to be able to reap the benefits of her labor and expand her business without holding debts. In order to accomplish this goal, she plans to start saving some of her revenues. Some of her main challenges have been to start advertising and find an affordable source of hired labor.
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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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Success!! The loan was 100% repaid