Update on ElkaElka, 37, is single and lives with her minor child. She is a humble worker who has made every effort to reach her goals. Her son goes to school and sometimes helps with the embroidery she does on her sewing work. This is her second loan through Fundación Mujer. She has been working as a seamstress for several years and makes bed linens, curtains and made-to-measure items. She also has an embroidery machine for her clothing.
Sometimes she receives orders for embroidery on uniforms from different institutions in the Limón area. Currently, she also earns an income selling Amway products to save toward her goal, which is to buy an industrial embroidery machine.
Previous Loan DetailsElka Zuniga is a 35 years old woman who is single and she has a young child. She lives alone with her son. She is humble and hardworking and she always strives to achieve what she sets out to do. Her son is in school but he also helps her with the embroidery she must do for her projects. She beca... More from Elka'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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