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Teresita

Update on Teresita

Teresita lives in a beautiful place in Costa Rica called las Nubes de Coronado. Her home is typical of the rural Costa Rican area, and she lives here with one of her brothers. A few years ago, she left the job that she had and decided to open a business in one of the rooms of her house. Here she has all type of gifts, cosmetics, and stationary items which she offers to neighbors, providing them with the opportunity to obtain what they need without traveling to a more commercial area. This trip takes a good deal of time since the bus does not run frequently.

As the Christmas season approaches, Teresita would like to stock her store with items that will be of interest to her neighbors and customers. For this reason, she has requested a new loan in hopes of increasing her sales, and in turn, her income during the approaching Christmas season.
View original language description ↓
Teresita vive en un hermoso lugar de Costa Rica llamado las Nubes de Coronado, su casa es tipica de la zona rural costarricense,ahí vive con uno de sus hermanos. Hace algunos años dejo el trabajo que tenia y decidió montar un negocio en uno de los aposentos de su casa,ahi tiene todo tipo de regalos, adornos cosmeticos y articulos de libreria que ofrece a los vecinos del lugar brindandoles la oportunidad de conseguir lo que necesitan sin tener que trasladarse al área mas comercial, lo que les demanda mucho tiempo, pues el autobus no pasa con frecuencia.
Al acercarse la época navideña Teresita quiere abastecer su local con artículos que sean de conveniencia para sus vecinos y clientes, y es por eso que ha acudido a buscar un nuevo crédito en procura de aumentar sus ventas y por ende sus ingresos en esta navidad que se avecina.

Previous Loan Details

Teresita is a 54-year-old woman who lives with her brother in Vazquez de Coronado, Costa Rica. Teresita runs a type of corner store which is attached to her home. She sells various products including books, clothing for children as well as for adults, cleaning products and personal hygiene pro... More from Teresita's previous loan »

Additional Information

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.

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Costa Rica

  • $12,900
    Average annual income
  • 39
    View loans »
    Costa Rica Loans Fundraising
  • $4,438,125
    Funds lent in using Kiva
  • 497.7
    Costa Rica Colones (CRC) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Teresita to purchase inventory such as clothing, cleaners and books.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 29, 2011
Listed
Dec 4, 2011
Currency Exchange Loss:
Possible
Ended:
Oct 16, 2012