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Emma Lorena
Emma has a degree in Business Administration. She and her mother have owned the family bakery business for 19 years. Her bakery, which is located in the county of Barranca with in the Province of Puntarenas, offers freshly made bread and confections and is well known as one of the best bakeries in the area. Having established this successful business, Emma has been able to improve the lives of her brothers by helping them get a formal education and improve the overall income of her family.

This business has been built from the ground up with Emma’s and her family’s own money, but due to the rising costs in both materials and processing, they have found that it has become necessary to diversify their business. Emma and her family wish to accomplish this diversification by offering their baked goods in other areas of Puntarenas, and to this end, they have rented a space in a nearby locaity for just this purpose. They have already begun to move some the of necessary equipment to the new location, but need extra capital in order to purchase ingredients for the bakery as well as new and different merchandise, which will then allow them to open this new branch of their already popular business.

Emma and her mother currently have a daily income of roughly 50,000 CRC. By adding the sale of new non-bakery related items to their inventory they will be able increase their current income as well as improve their quality of life. In terms of organization, part of the staff will move to the new location while the others remain at the original. With the current bakery, Emma and her family have demonstrated their ability to make the monthly loan payments, and have repaid the full amount of their previous loan. Having visited the area where they intend to open the new baker, I can assure you that it has an excellent chance for success due to it’s prime location on the main street, which is a better location than their already successful current business. There are no other bakeries in the area.

With their 19 years of experience, Emma and her family intend to make this new venture even more successful than their current one, which should be a rather easy task given the level of competency that they’ve developed over the years. They will also continue to strive to go above and beyond the needs of the clients who patronize their current shop.

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 Costa Rica

  • $11,100
    Average annual income
  • 7
    View loans »
    Costa Rica Loans Fundraising
  • $3,978,825
    Funds lent in using Kiva
  • 537.2
    Costa Rica Colones (CRC) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $1,125 helped Emma Lorena to open a new branch of their bakery business.
45% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Disbursed:
Apr 10, 2014
Listed
Apr 1, 2014
Currency Exchange Loss:
Possible