Update on MariaThe previous loan allowed me to be able to offer my customers longer repayment terms. With that I have managed to expand my market. The problem I previously faced was that the providers gave me credit terms of 30 days. This limited my ability to offer my customers adjustable terms according to their capacity to pay.
Now I am participating in a housing project. At present I am living in a house that my sister provided me with after my divorce.
It is hoped that this December they will award the houses. However, my participation with this housing committee would not have been possible without the financial help that the Fundación Mujer gave me. With the income from developing my business activity of itinerant sales I have been able to get in front of the expenses. These are the expenses that I have had to make in pursuit of a house for my son and me.
En este momento estoy participando en un proyecto de vivienda, por el momento estoy viviendo en una casa que me facilito mi hermana, despues de mi divorcio; es de esperarse que para este Diciembre se de ya la adjudicación de las casas, pero mi participación en este comite de vivienda no hubiese sido posible, sin la ayuda financiera que me ofrecio fundación Mujer, porque con la ganancia del desarrollo de mi actividad de comercio ambulante, es que he podido hacerle frente a gastos que he tenido que realizar en pos de adquirir una vivienda para mi hijo y yo.
Previous Loan DetailsMaria is a 34-year-old single mother of 2 who lives with her children in Puntarenas, Corredores, in the southern region of Costa Rica. Throughout her time as a client of Fundación Mujer (since 1997), María has displayed her ability to be a responsible client and make punctual repayments. Maria has… More from Maria'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
- Jul 18, 2012
- Jul 25, 2012
- Currency Exchange Loss:
- Feb 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.