Banco Mujer Las Hijas Del Rey Group
Currently, she cares for two grandchildren because her daughter is very sick and unable to work to support them. This has pushed her to continue the work with which she is experienced. It is important to point out that, after so many years, she is very close to fulfilling her dream: to have a house so she will stop getting wet and to have a floor that her current house does not have.
She is requesting this loan in order to generate more income from the sale of the goods that she distributes. The sales are greater at this time because of Mother's Day and Christmas gifts. She chose Fundacion Mujer for the simple paperwork and low interest rate.
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!