She currently travels four times a year to Mexico and wants to start travelling to New York because her clientele needs different designs for each season of the year. She can get them at a lower price there, so her profits will improve. She started this business five years ago. She currently has 142 loyal customers, who request clothes, make-up, hair products, shoes and even appliances. She wants this loan to buy new merchandise that they are asking for.
She is still studying; now she is taking an accounting course because she wants to be better prepared when she goes to the university. She recently achieved one of her dreams; she bought a motorcycle in cash. She also has shelves and racks to hang the clothes. She appreciates the support that Fundación Mujer gave her with the previous loan and promises to continue to have an excellent payment standard.
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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.
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