Solidaria Mujer Con Visión De Exito Group
All of these women are the heads of their households, taking care of the children and other necessities, and they wish to combine their abilities in order to succeed and purchase various type of merchandise. They all have a good clientele and ample business experience, some with more than 20 years. They sell clothing, sandals, and perfume among other things, and they are all very familiar with their market, their suppliers, and their clients, which allows them to make the most of their investments. With the loan that they are currently asking for they would like to increase their sales catalogue for the summer season in the Pacific Coast of Costa Rica.
This group became interested in working with Fundación Mujer through the recommendation of the groups formed by Fray Casiano, and they received the information lecture. During the month of May, the were given the training lecture, which demonstrated that they are a dependable and organized group who have a strong desire to work and to support one another in growing not only financially, but personally as well. Forming their board of directors in a democratic manner, they then filled out their credit application to begin their work in keeping with the requirements of Banco Mujer.
The president of this group is a young woman of 20 named Argerie. She is married, her husband helps support her business, and has a 3-year-old child. She works with the hope of providing her son with a better future.
They all live in Barranca, Puntarenas, an area that has few options for employment. Argerie will be able to invest in her home-based business selling clothing, sandals, and costume jewelry that she purchases from larger business in the Central Valley and look for new ways to generate income.
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.
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This loan has been fully funded!