María is involved in catalogue sales. In her community, from door-to-door, she offers a variety of products to potential clients, in an effort to increase revenues. Her most popular products are women’s underwear and cosmetics. She plans to use this loan to invest in the purchase of such merchandise.
As is the case for most women in the region, María is responsible for domestic tasks such as cooking and cleaning. Everyday, after these tasks have been completed, she dedicates her time to her business, whether making sales, purchasing merchandise, or collecting on repayments. For María, this loan represents the opportunity to secure much needed working capital, which will allow her to make sales to her clients on credit, a method she has found very effective with her clients.
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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