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Banco Mujer Nuevo Caribe Group
In this Group: Cinthya , Leticia, Shirley, Sharon , Nydia , Lizeth , Karla, Silvia, Suyen

Update on Banco Mujer Nuevo Caribe Group

Leticia, the treasurer of the group, has been a client of the organization for two years and has taken out two previous loans. She is a tenacious mother who works intensely for the well-being of her 3 children, and especially for her son with special needs. They are the motor that drives this tireless business woman, who sells cosmetics, perfume and makeup from a well-known brand, as well as lingerie. This new injection of business capital will be used to buy more merchandise, since her clientele has increase considerably, and her demand and orders along with it. With the previous loans she was able to improve her family's living conditions and meet one of her short term goals, which was to buy an automobile to facilitate delivery and payment collection.

Together with Leticia are 8 other ladies in the group, all very dedicated, with wishes to get ahead. They carry out commercial activities and small industries.
View original language description ↓
Doña Leticia, la tesorera de este grupo, es clienta de la organización hace 2 años, y ha solicitado 2 préstamos anteriormente. Está luchadora madre trabaja intensamente en el bienestar de sus 3 hijos y en especial por el de su hijo con capacidades especiales. Ellos son el motor de esta incansable empresaria que se dedica a vender cosméticos, perfumes, maquillaje de una marca reconocida y lencería. Esta nueva inyección de capital de trabajo se invertirá en la compra de más mercadería, ya que su cartera de clientes ha aumentado considerablemente así como la demanda y pedidos. Con los créditos anteriores ha logrado mejorar las condiciones de vida de ella y su familia, así como cumplir una de sus metas a corto plazo, que era comprarse un automóvil que le facilite la entrega y cobro de los productos. Junto a Leticia continúan en el grupo 8 señoras más, todas muy emprendedoras, con deseos de salir adelante y que desarrollan actividades comerciales y de pequeña industria.


Previous Loan Details

Leticia is Treasurer of the “Mujer Nuevo Caribe” communal bank; she’s a very hard working woman and successful micro businesswoman. But, above all, she’s a self-sacrificing mother. She has three children, a girl, 11, and twin, 13-year-old boys one of which has cerebral palsy and because of his ... More from Banco Mujer Nuevo Caribe Group's previous loan »

Additional Information

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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About Costa Rica

  • $11,100
    Average annual income
  • 45
    View loans »
    Costa Rica Loans Fundraising
  • $4,182,075
    Funds lent in using Kiva
  • 502.4
    Costa Rica Colones (CRC) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A portion of Banco Mujer Nuevo Caribe Group's $6,275 loan helped a member to buy clothes, lingerie, perfume, cosmetics and others.
99% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Disbursed:
Jun 17, 2013
Listed
May 26, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 18, 2015