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Banco Mujer Santa Marta Group
In this Group: Rosibel, Viviana, Sandra , Lucrecia, Siomara
Rosibel is 41 years old, married, and has three children. Currently she lives with her children and her husband. Two of her kids are in primary school and the other is in high school. Rosibel’s husband is self-employed and works on a small farm in a rural community which is where the family lives. She is an organized, nice, and humble woman who not only wants to grow her business but to also to grow on a personal level. Rosibel’s principal line of work is door-to-door sales of catalog merchandise but she also has experience raising animals such as chickens, pigs, and cattle. For many years, she has been committed to door-to-door sales to help her husband. Due to the income that Rosbel has generated from her sales, she has been able to assist her children with school expenses and contribute a little to the home expenses. Thanks the Fundación she has extended the reach of her business and achieved personal growth. Rosibel believes that she can grow even more and improve the quality of life of her and her family.

Rosibel is requesting a loan to invest in more catalog merchandise. Along with her four group loan partners, her group will invest in the materials needed to start a beauty salon and purchase cattle. This loan will help Rosibel and her partners grow both personally and professionally.

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.

About Fundacion Mujer:

Fundación Mujer is an organization specializing in the financial and personal development of female entrepreneurs in Costa Rica. They seek to reach underserved populations that may include indigenous communities, immigrants, refugees, victims of domestic violence or women living with HIV/AIDS. Fundación Mujer offers courses in both business and personal development, as well as training in concrete skills such as sewing and other crafts.

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.

Tags

About Costa Rica

  • $12,900
    Average annual income
  • 25
    View loans »
    Costa Rica Loans Fundraising
  • $4,365,675
    Funds lent in using Kiva
  • 561.5
    Costa Rica Colones (CRC) = $1 USD
Paying Back

This loan has been fully funded!

A portion of Banco Mujer Santa Marta Group's $4,475 loan helped a member to purchase catalog merchandise to sell.
74% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Disbursed:
Apr 2, 2014
Listed
Mar 14, 2014
Currency Exchange Loss:
Possible