Banco Mujer Nuevo Caribe Group
She was able to invest in merchandise for the Christmas season. She got a lot of good earnings, which allowed her to reach one of the medium term goals she had set. She bought an automobile to facilitate the sales and collections for her products. She also uses the automobile to transport her disabled son to therapies and doctor’s visits.
She will use this loan in the same way. She will buy clothes, lingerie, and cosmetics. With the same motivation she is completely sure that her business will continue to grow.
Leticia’s communal bank is comprised of eight other members. They are very responsible, organized, and committed. They also develop commercial business activities and services.
Ella pudo invertir en mercadería para la temporada navideña, y obtuvo muy buenas ganancias, que le permitieron alcanzar una de las metas que se había propuesto a mediano plazo, que es la compra de un automóvil para facilitar la venta y cobro de sus productos, así como el traslado de su hijo con discapacidad a terapias y visitas al doctor.
Para este préstamo ella va invertir en lo mismo, ropa, lencería y cosméticos, y con la misma motivación tiene toda la seguridad que su negocio va seguir creciendo.
El grupo de doña Leticia está compuesto por 8 socias más, que fueron muy responsables, organizadas y comprometidas, ellas también desarrollan actividades comerciales y de servicios.
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.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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