Kiva conducts regular, ongoing monitoring of all Field Partners, but only posts status updates here in response to relevant, major changes at the partner.

Partner Description:

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 include indigenous communities, immigrants, refugees, victims of domestic violence or women living with HIV/AIDS.


A unique lending approach:

Fundación Mujer seeks to empower women by preparing them for the current demands of the market, building confidence in their abilities and decision making skills, and to create a network and community of female entrepreneurs supporting one another as they grow.


The organization does this through 3 different types of loans. The Banco Mujer and Solidaria Mujer loans are both group loans, in which the group members serve as one another’s backers to obtain the loan and ensure that repayments are made on time. Individual loans are given to women with at least 6 months of experience working in a particular field or women who have owned a small business for at least 1 year. Additionally, Fundación Mujer offers courses in both business and personal development, as well as training in concrete skills such as sewing and other crafts.

Update from Kiva Staff on August 10, 2011

Fundacion Mujer has $17,446 in loans on Kiva currently in arrears out of a total outstanding portfolio of $90,500. As a result, its delinquency rate as expressed on the Kiva website is currently 19.28%.
As indicated by this delinquency rate, a number of Fundacion Mujer borrowers have struggled to make full payment on their original repayment schedules.  Fundacion Mujer shared that a significant number of these struggling borrowers have been chili farmers affected by a downturn in chili prices.  Another cause of delinquency, described in a series of Kiva journals posted earlier this year, was a bird plague that affected the crops of some farmers.
In order to better support these borrowers and also to increase the odds of successful repayment, Fundacion Mujer has been working with some of these borrowers in order to restructure their repayment schedules.  To date, 22% of Fundacion Mujer's Kiva loans have been restructured.  From data provided by Fundacion Mujer, the main reasons for restructuring appear to be: 1) production/sales problems (including agricultural production issues like chili prices and bird plague), 2) general economic difficulties, and 3) client health issues.
Almost half of Fundacion Mujer's restructured loans are actually repaying on time according to their new repayment schedules.  Due to technical limitations, however, virtually all of the restructured loans appear delinquent on Kiva.  This is because delinquency on Kiva is measured relative to the original repayment schedule as posted on the website at the time of the original loan.  As such, the previously reported delinquency rate does not adequately capture the true repayment behavior of Fundacion Mujer clients on their new, restructured repayment schedules.

Kiva will continue to work with Fundacion Mujer to monitor client repayments on their Kiva loans, both restructured and otherwise. We will keep this page updated with further updates as information becomes available.

Want to learn more about Fundación Mujer? Here's how:

  1. Join the "Friends of Fundación Mujer" lending team to get updates from Kiva Fellows and MFI Staff in Costa Rica here
  2. Make a loan to a Fundación Mujer client on Kiva today here

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Nov 23, 2009 Oct 12, 2005
Total Loans $1,438,850 $735,025,750
Amount of raised Inactive loans $28,550 $336,200
Number of raised Inactive loans 17 357
Amount of Paying Back Loans $430,750 $136,108,725
Number of Paying Back Loans 213 158,146
Amount of Ended Loans $979,550 $598,580,825
Number of Ended Loans 611 741,418
Delinquency Rate 7.03% 8.67%
Amount in Arrears $16,396 $7,795,468
Outstanding Portfolio $233,355 $89,880,828
Number of Loans Delinquent 63 29,970
Default Rate 1.36% 1.27%
Amount of Ended Loans Defaulted $13,281 $7,580,279
Amount of Ended Loans $979,550 $598,580,825
Number of Ended Loans Defaulted 20 20,845
Currency Exchange Loss Rate 0.02% 0.29%
Amount of Currency Exchange Loss $331 $2,153,504
Refund Rate 1.21% 0.67%
Amount of Refunded Loans $17,350 $4,933,875
Number of Refunded Loans 9 5,441

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 95.83% 74.48%
Average Loan Size $640 $416
Average Individual Loan Size $1,039 $651
Average Group Loan Size $2,869 $1,848
Average number of borrowers per group 5.6 8
Average GDP per capita (PPP) in local country $12,900 $5,941
Average Loan Size / GDP per capita (PPP) 4.96% 7.00%
Average Time to Fund a Loan 7.22 days 6.49 days
Average Dollars Raised Per Day Per Loan $88.56 $64.00
  Average Loan Term 15.41 months 10.81 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 502 363,751
  Journaling Rate 52.12% 41.50%
  Average Number of Comments Per Journal 0.05 0.06
  Average Number of Recommendations Per Journal 0.13 1.52

Borrowing Cost Comparison (based on 2013 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 31% PY 23.00% PY 31.61% PY
  Profitability (return on assets) 0.2% 0.5% -0.48%
  Average Loan Size (% of per capita income) 9.50% 28.00% 19.33%

Country Fast Facts

Field Partner Staff

Gabriela Cascante
Laura Castellon Venegas
Eledith Diaz Jimenéz
Ana Lucrecia Flores Montoya
Bernardo Gutierrez Umaña
Arelis Leiton Aburto
Zobeida Moya Lacayo
Ivan Quesada
Juan José Salazar
Ivannia Sibaja Picado