This will be Guisselle's first loan with Fundación Mujer. Guisselle decided to apply for a loan after completing a capacity building course in business administration at the Foundation. With this loan, Guisselle plans to make investments in both of her productive activities. Specifically, she plans to buy different colors of high quality wool and make repairs to her weaving machine by replacing the cones. She also plans to use the loan to purchase balloons and party decorations. Currently Guiselle has pending orders in both of her activities. She lacks sufficient working capital in order to make investments, which would enable her to satisfy the demands of her clients. This loan will help to address this obstacle.
With two children and a home to take care of, Guisselle is busy most days until 3 PM. She dedicates the hours between 3 and 6 to weaving. If necessary, she will weave after dinner until 11 PM. When she provides party decoration services, her husband assists her. Guisselle´s long-term goal is to fulfill her business plan, which includes generating sufficient revenues from her productive activities in order to open a weaving workshop and a gift shop. As mentioned, the main factor inhibiting the growth of her business is a lack of access to working capital. Guisselle plans to use this loan to make bulk purchases of quality raw materials, which will ensure a better price from her suppliers and lower her overall costs of production.
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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.
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Success!! The loan was 100% repaid