Update on TeresitaTeresita 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.
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 DetailsTeresita 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 »
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.
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.
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Success!! The loan was 100% repaid