Miguel is requesting this loan in order to continue with this work. It is time for Miguel to begin a new cycle of chiricana potatoes. This will help him earn money for his family since there is a shortage of employment in his area. Miguel elected to request a loan through Fundación Mujer because his wife has already obtained a loan from them for the same purpose and it was a very successful endeavor for them because of the low interest rates.
Miguel hopes to continue growing his crops so that he will increase his household income and improve his quality of life.
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.
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Success!! The loan was 100% repaid