Banco Mujer Las Triunfadoras Group
This very hard-working woman started helping her life partner in a cabinetmaking shop that they have at their house. Through the years she has become a cabinetmaker. She is the one in charge of putting the finish on each piece of furniture. Her work is good quality and has fine details.
The four loans that she has previously received have allowed her to invest in machinery and raw materials to design the furniture. This time she will buy wood and the needed supplies to see to the furniture orders for this Christmas.
Cristina has many projects for the future. Some of those plans are to keep going to school, to improve her family’s financial condition, and to finish her house by arranging a larger space for the shop.
There are six more members, who together with Cristina, comprise the Mujer Las Triunfadoras communal bank. They are going to invest in their commercial and small industry activities.
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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