Update on Cristina MaríaMaría, age 39, lives in Isla de Chira, Costa Rica. She lives with her husband and their daughter, who is currently attending high school.
María has a business selling catalogue items door-to-door in her community. She offers potential clients items such as colognes, cosmetics, underwear, and jewelry in an effort to make a contribution to the family income. María's husband earns a living as a fisherman when he can, but often the fishing season is restricted, forcing him to find other types of work in order to meet the familiy's basic financial needs.
María plans to use this loan to finance the purchase of various catalogue products. She has already collected the orders from clients in her community. All she requires now is the working capital with which to purchase the items she intends to sell. In order to make these purchases, María must travel by boat to Puntarenas, across the Nicoya Gulf, which takes about two hours each way.
María is a hard-working, ambitious entrepreneur. She organizes her day in order to optimize her productivity. In the mornings, she carries out the domestic tasks at home and sends her daughter to school. When María travels to Puntarenas, she wakes up at 4 a.m. because the boat leaves at 6 a.m. and the walk from her home to where the boat leaves is long. In the afternoons, she visits her clients and collects orders. At night, María attends night school, where she is in the process of completing her high school certificate.
María's goals are to increase her client base and to gain clients in all parts of the Isla de Chira, the island where she lives. She hopes to be able to finance the studies of her daughter in the future. María says her main obstacle is the competition she faces from other vendors. She doesn't let this deter her, though, because she says ¨there is sufficient diversity in products.¨
Previous Loan DetailsMaría is a 38-year-old mother who lives in Isla de Chira, Costa Rica. She lives with her husband and daughter who is currently attending high school. María has a business selling catalogue items door-to-door in her community. She offers potential clients items such as colognes, cosmetics, under... More from Cristina María'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
- Repayment Term
- 20 months (Additional Information)
- Repayment Schedule
- Jun 12, 2012
- Jun 16, 2012
- Currency Exchange Loss:
- Nov 17, 2014
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.