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Banco Mujer Jire Group
In this Group: Jessica Magaly , Edith, Liduvina, Lourdes, Magaly

Update on Banco Mujer Jire Group

This group is composed of five women: on top of being friends, they believe in the same faith, and this has been an important element to reach the cohesion of the group.
They live on the Southern Costa-Rican-Panama frontier, an area with peculiar characteristics such as underemployment of the adult male population and a few chances to find a paid job for women over 35 years of age, as the business generated by the big shopping centers requires young women. For this reason, older women are obliged to become their own employers.
However this economic situation creates jobs opportunities for them, as by selling products from catalogue they offer their customers the chance to buy products on credit, something that is not possible in the big shopping centers, where products are sold for cash only.
This loan will be invested in the purchase of catalogue merchandise, underwear, perfumes, cosmetics, and two members will venture into selling Tupper Ware brand products, as these are items requested by their current customers and that could be requested by potential customers as well.
The final aim of their effort is to engage in retail in order to provide a better standard of living to themselves and to their families.
View original language description ↓
El Grupo esta conformado por cinco mujeres, que ademas de ser amigas, profesan la misma fé, esto ha sido un factor importante para lograr la cohesión del grupo.
Estan ubicadas en la frontera Sur de Costa Rica-Panama, zona que presenta caracteristicas muy particulares: subempleo para la población masculina adulta, pocas oportunidades de empleo remunerado para mujeres mayores de 35 años, por cuanto el comercio generado por los grandes almacenes, demanda mujeres jovenes; lo que hace que estas mujeres se vean en la necesidad de autoemplearse.
Sin embargo este auge comercial abre oportunidades de negocios para ellas, ya que a travez de la venta de productos de catálogo, ofrecen la oportunidad a sus clientas de obtener articulos a crédito, algo que no es posible en los grandes almacenes, que unicamente venden de contado.
Este préstamo se invertira en la compra de mercadería de catálogo, ropa interior, perfumeria, cosm{eticos y dos compañeras incursionarán el la venta de productos de la marca Tupper Ware, articulos que demandan sus clientes actuales y potenciales.
El fín último de todo este esfuerzo de realizar el comercio minorista es el ofrecer mejores condiciones de vida a ellas y por ende a sus familias.

Previous Loan Details

This is a group of women who attend different churches, Cuadrangular and Movimiento Misionero. They live in the same community and know each other well. They decided to form Banco Mujer to have access to working capital, strengthening their commercial activities and breeding pigs. These women… More from Banco Mujer Jire Group's previous loan »

Additional Information

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.

About Costa Rica

  • $11,100
    Average annual income
  • 1
    View loans »
    Costa Rica Loans Fundraising
  • $4,022,575
    Funds lent in using Kiva
  • 498.6
    Costa Rica Colones (CRC) = $1 USD

Success!! The loan was 100% repaid

A portion of Banco Mujer Jire Group's $2,525 loan helped a member to buy catalogue merchandise, underwear, perfumes, cosmetics and Tupper Ware products.
100% repaid
Repayment Term
19 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 25, 2012
Listed
Aug 6, 2012
Currency Exchange Loss:
Possible
Ended:
Aug 22, 2013
This photo was used before for a previous loan for Banco Mujer Jire Group. It was first posted on Kiva on Dec, 2011. Learn More