Blanca, 51, is a widow. She has been a merchant for 3 years, selling clothing, shoes, and makeup that she buys from the distributors in the community. She only goes to the various homes in her community, offering her products that she assures are of very good quality. She has regular customers who await her visit every 15 days so that they can buy more items.
Blanca needs this loan to buy more merchandise and increase her profits to generate income for her household, because she is currently caring for her father, who is an elderly adult and needs costly medications.
Blanca chose to work with the Fundación Mujer because of the good service and low interest rates it offers. In the future, Blanca hopes to generate enough capital to buy merchandise from her suppliers with cash, and to increase her sales with the goal of improving her family's financial situation.
Doña Blanca tiene 51 años de edad, es viuda, se dedica al comercio desde hace tres años, ella vende ropa, zapatos y maquillaje que compra a los distribuidores de la comunidad. Ella sola va por las diferentes casas de la comunidad y ofrece sus productos que asegura son de muy buena calidad, por eso tiene clientela fija que cada quincena la espera para comprarle más artículos. Este crédito lo necesita para comprar más mercadería y aumentar su ganancia para generar ingresos al hogar ya que actualmente esta cuidando a su papá que es adulto mayor y necesita medicamentos que son de alto costo. Eligió Fundación Mujer porque tiene una tasa de interés baja y la atención es muy buena. En un futuro ella espera generar suficiente capital para comprar de contado a sus proveedores y aumentar sus ventas con el objetivo de mejorar la situación económica familiar.
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.