The Women´s Association Of Artisans Of Chira Group
Update on The Women´s Association Of Artisans Of Chira GroupThe Women´s Association of Artisans of Chira is a legally recognized entity, which is an association of entrepreneurs that has existed for nine years. The nine women members of this group live and work on the island of Chira, located in the province of Puntarenas, on the pacific coast of Costa Rica. The women know one another on a deep and personal level, having lived in the same community for the majority of their lives. Throughout the group’s existence, the members have received support and instruction from various public and private institutions, including universities and government bodies in charge of economic development. This will be the group´s third loan with Fundación Mujer. During the group´s first and second loan, the members demonstrated their ability to make punctual repayments and work well together as a group.
The members of this group have a business producing various arts and crafts that they sell to tourists as well as locals at various fairs and sales events. The women work from 10 am to 4 pm from Monday to Saturday. The work is separated into shifts, allocating some members to production and other members to sales, adjusting to supply and demand as the members see fit.
On the production side, members work in their workshop in order to produce jewelry made out of fruit seeds, rock paintings, and gourd crafts (a gourd is called a Jicara in Spanish, a type of inedible fruit, which the women hollow out and paint, as can be seen in the picture). The gourd fruits are cultivated from the land of the members.
On the sales side of things, the women have been successful in earning revenues at various fairs and community events. Additionally, the association has secured an agreement with a local hotel owner who gives tours to her guests. One stop on the tour is the workshop of the association, whereby observers can view the artistic production process and purchase hand made arts and crafts. The group members are well aware of the marketing appeal that is generated by having visitors to their workshop; for this reason, one of the groups goals is to use this loan to make improvements to their workplace and make it more presentable, one woman explained, "the workshop is the face of our business." This loan will also be used to invest in work materials and tools, necessary for the production of various arts and crafts, including pliers, ropes, wires, and wood.
Adilia Maria E. M. is a 29 year-old single mother who lives with her mother and five children on the island of Chira. Adilia, like the rest of the entrepreneurs in this group, is dedicated to her productive activity. The revenues earned by these hard working women represents a significant portion of family income. The main obstacle the members face is securing a steady market for their products. At the moment, sales are sporadic, in good months, the nine members can earn up to $1,000 as a group, in bad months, only $400. Currently, the group is awaiting the response for an application that has been submitted to the municipality of Puntarenas, which would grant them the right to make sales to tourists on cruise ships. Various cruise ships dock in Puntarenas, and this represents an interesting opportunity for the group to increase their revenues.
Previous Loan DetailsThe Women´s Association of Artisans of Chira is a legally recognized entity which is an association of entrepreneurs that has existed for 9 years. The 9 women members of this group live and work on the island of Chira, located in the province of Puntarenas, on the pacific coast of Costa Rica. The… More from The Women´s Association Of Artisans Of Chira Group'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.
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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This loan has been fully funded!
- Repayment Term
- 38 months (Additional Information)
- Repayment Schedule
- Jun 7, 2012
- Jun 13, 2012
- Currency Exchange Loss:
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.