Lucy is 34 years old and single. She makes a living selling clothes, perfume and footwear that she buys from different distributors in the area. Lucy works alone buying and selling these articles as it allows her to earn an income for the household. Every month Lucy invests enough in buying the merchandise that her customers have ordered. If Lucy has known a customer for some time, she will give them one month to pay for the shoes; if the customer is new, however, she asks for some money up-front and then gives them two weeks to pay. Lucy is applying for this loan to invest in more merchandise as her number of customers has increased, and they need items that Lucy cannot currently buy. Customers choose Lucy because she has low prices and she gives them a month to pay. This is Lucy's second loan; she paid her first loan back on time. Lucy chose "Fundación Mujer" because of the good service, the low interest rate and because the organisation operates in Lucy's local area. Lucy would like to continue with this work because it allows her to earn an income for the household and there are very few jobs in the area. These last two years have gone very well for Lucy and she wants to continue progressing in her work and to gain more experience and improve as much as she can.
Lucy, 34 años de edad, soltera, se dedica a la venta de ropa, perfumes y calzado que compra en diferentes distribuidoras de la zona, ella sola se dedica a la compra y venta de estos artículos ya que esto le permite generar ingresos al hogar; todos los meses invierte suficiente en la compra de mercadería que le encargan, a las clientas con más tiempo les brinda un mes de plazo, si es nueva preferiblemente pide un adelanto y en dos semanas recauda el resto del dinero. Solicita este crédito para invertir en más mercadería ya que su clientela ha aumentado y presenta mayor necesidades que ella puede cubrir, en la zona la prefieren porque tiene precios bajos y brinda crédito con un mes de plazo. Este es el segundo crédito que ella solicita, anteriormente se presento con excelente moral de pago, eligió Fundación Mujer por el buen servicio, baja tasa de interés y porque nos desplazamos hasta la zona atender el crédito. Desea continuar con esta actividad por que es un medio por el cual obtiene ingresos al hogar ya que en la zona no existen suficientes fuentes de empleo, en estos dos años le ha ido muy bien y ella desea continuar creciendo en la actividad y personalmente adquirir más experiencia y mejorar en lo que sea posible.
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.