A loan of $2,975 helped a member to purchase inventory such as pajamas and other catalog merchandise.

The Women's Bank Of Siquirritos Group's story

The Women’s Bank of Siquirritos is made up of ten women who live in Siquirritos, Limón, located near the Caribbean coast of Costa Rica. In general, the group members are involved in commercial activities such as the sale of catalog items (kitchen wear, cleaning products, jewelry) as well as clothing and food sales. This loan will be used, at the discretion of each individual, to make investments in their productive activities. The majority of this loan will contribute to the purchase of inventory items (mentioned above) which the group members will sell at a markup in order to earn an income.

This loan represents the first partnership between Fundación Mujer and The Women’s Bank of Siquirritos. The loan consultant that has been working with the group members describes the women as hardworking, and goal-oriented. The members have extensive experience in carrying out their individual activities. A lack of access to working capital is a commonality amongst group members and has hindered the progress of their businesses. For this reason, these women have applied for a loan with Fundación Mujer in order to expedite the success of their businesses.

Isabel M. C. is a 41-year-old mother of two who lives with her family. She plans to use this loan to invest in her sales business by purchasing inventory items such as pajamas and other catalog merchandise. Her main objective is to expand her business in an effort to improve the living conditions of her family with the added income. As mentioned, her main obstacle has been a lack of access to working capital.

Isabel wakes up early every day in order to complete domestic tasks and prepare her children for school. The rest of her day is dedicated to her business, making sales, or collecting payments from clients in her community.

With respect to the group, Isabel mentions that all the women are from the same community. She says that the group lending model is advantageous because it allows the women to act as guarantors for each other’s loans. Additionally, Isabel is thankful for the support offered by Fundación Mujer to the group as a whole. She is aware of the potential disadvantage which may present itself if any members are unable to pay back their loans, as the whole group is responsible for all repayments.

In this group: Manuela, Lyanneth, Ania, Maria , Maria Marta , Isabel , Sandra, Juana, Beatriz, María
*not pictured

Loan details

Lenders and lending teams

Loan details