Banco Mujer Mujeres Unidas Group
Sara lives in a very rural community named Shiroles. Her husband is a day laborer and gains little from his work. For this reason, Sara started raising and selling chickens to support their family's needs and her children's schooling since all four are in school. She also carries out other activities including the sale of food in her community in order to generate greater income, while still caring for her family. Sara receives support from her family in the raising of chickens. She has been a client of the Foundation for several years and has always been responsible and punctual.
Sara and her seven group members are planning to strengthen their businesses raising animals, farming, and making catalog sales. They dream of developing further to get ahead, overcome challenges, and improve their and their families' living conditions.
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!