Banco Mujer La Confianza Group
Over 20 years ago, her only option in life was to live in a different country to generate household income and raise her family. She tells us that as a child she watched her father make shoes, so she decided to learn the craft and start her own shoe store with the help of her children and her husband.
She already counts with the shoe store: one of the few within the area where she lives that is well stocked with all types of shoes that her clients may request.
For the last two years, she has been supplying shoes to different stores in the larger metropolitan area. As such, she is requesting a loan to invest in purchasing the raw materials needed to continue crafting together different shoes.
This helps her generate revenue for the home so she can provide for the welfare of her children and grandchildren.
Violeta is a woman of great entrepreneurial nature and is very grateful for the assistance provided by Fundación Mujer, since the area where she lives is considered marginalized and is not frequently visited.
She appreciates the loans offered at low interest rates.
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!