Banco Mujer Promujer Group
Even though these women live close to the Panamanian border, where there is a very strong commercial zone, they have the opportunity to sell their products. They sell through a payments system, and their products sell because of their quality.
Among the future plans for these women is to be able to keep being a financial support to the household. This way they achieve a greater quality of life. The majority of them are women alone, and those that have life partners are paid low salaries or are underemployed.
That is why the business activities of these women are so important to generate income for their families.
Aún cuando estas mujeres viven muy cerca de la frontera con Panama, donde existe una zona comercial muy fuerte, tienen la posibilidad de comercializar sus productos, primero por ofrecerlos mediante el sistema de pagos, asi como por la calidad de los productos que ofrecen.
Dentro de los planes a futuro de estas señoras esta el poder seguir haciendo un aporte a la economia domestica, logrando con ello mejorar la calidad de vida, ya que en la mayoria de los casos, son mujeres solas y las que tienen compañeros devengan salarios bajos o estan subempleados; de alli que la actividad de estas mujeres sea importante en la generación de ingresos para sus familias.
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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