Banco Mujer Jehova Es Mi Pastor Group
This activity helps her to generate additional income for the household. Her group chose Fundación Mujer because the interest rate is low and they have a group loan that is more viable for them as they do not have guarantors.
Ana will invest her loan in furniture so that she can have her products ready to sell so her clients don't have to wait 8 days for her to make them.
Esta actividad le ayuda a generara ingresos adicionales al hogar. Su grupo elige Fundación Mujer porque la tasa de interés es baja y cuentan con el crédito grupal que es más factible para ella que no cuentan con fiadores. Doña Ana tiene pensado invertir en un mueble donde pueda tener la mercadería para enseñarla a sus clientas y que no tengan que esperar 8 días para tener el producto deseado.
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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Success!! The loan was 100% repaid