The Women´s Bank Of Dorcas Group
Update on The Women´s Bank Of Dorcas GroupThe name of this women’s bank, Dorcas, was chosen by the seven group members because it alludes to a woman in the Bible who did work in order to help other women like widows and older people; the help was usually in kind which is why this name alludes to communal bank methodology: women helping women.
The bank's leader is Ofelia, who works in retail selling crafts and clothing. This is her main source of income. Her children are grown and also help her with finances, although not enough to live on. This is why she runs her own business.
The loan will be used to buy catalogue merchandise, cosmetics, underwear, perfumery-all items that are well received in their markets because they offer credit to their customers, something that would be impossible if it weren’t for the loans offered by the Fundación. In addition, being able to count on having working capital on hand makes it possible for them to take advantage of special sales the suppliers of their products offer during various seasons in the year like Mother’s Day, national festivals, end-of-year festivals. These special promotional events are strictly cash only.
Among the group’s future plans is to be able to continue putting in their little grain of sand toward their families’ economy because they live in a part of the city with employment, sub employment and unemployment rates that are very unfavorable for women, because they have low academic levels and are of an age that many employers consider them no longer productive; thus the importance self-employment has for them.
El banco mujer tiene como lider a Ofelia, mujer que se dedica a la actividad de comercio, asi como a la confección de artesanias y confección de ropa, esta combinación de actividades, es el mayor sosten para ella, ya que todos sus hijos ya hicierón vida aparte y recibe de ellos un apoyo económico, que no es lo suficientemente grande, de allí que ella necesite realizar sus actividades para el complemento de su manutención.
El préstamo se destinara a la compra de mercadería de catálogo, cosméticos, ropa interior, perfumería, articulos que tienen una muy buena aceptación dentro del mercado que ellas atienden, ya que ellas ofrecen la posibilidad de dar crédito a sus clientas, algo que no podrian hacer de no contar con la oportunidad de financiamiento que Fundación les ofrece, ademas el poder contar con un capital de trabajo, les permite tener acceso a las promociones que las casas proveedoras de los articulos que comercializan hacen para diferentes temporadas del año, como lo es día de la madre, fiestas patrias y fiestas de fin de año,estas promociones son estrictamente de contado.
Entre los planes a futuro de las integrantes del grupo esta, poder seguir aportando un grano de arena a la economía familiar, por vivir en una zona del país con indicadores de empleo, subempleo y desempleo, muy desfavorable para las mujeres, por tener ellas grados bajos de escolaridad y una edad que para muchos empleadores, las consideran inproductivas; de allí la importancia que este autoempleo tiene para ellas.
Previous Loan DetailsThe Women’s Bank of Dorcas is a group comprised of 7 women members who live in Paso Canoas, Puntarenas. Each individual member is involved in a commercial activity such as sewing or various types of sales (shoes, clothing, jewelry, livestock and catalogue items). Each woman will use this loan to… More from The Women´s Bank Of Dorcas 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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