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The Women´s Bank Of Forging Goals And Dreams Group
In this Group: Emma, Flora , Nidia , Luzmilda, Vilma, Karina
The Women's Bank of Forging Goals and Dreams is comprised of six women members who live and work in Jaris, San Jose, in the central valley of Costa Rica. Historically, the members of this group have demonstrated their ability to fulfill their loan repayment responsibilities while undergoing difficulties within the group. During the lifespan of a prior loan, some group members faced challenges in making repayments. Despite this internal problem, the group as a whole was never late making repayments, i.e. the members banded together in solidarity to ensure the group was on time with their repayments. The loan consultant who has been working with this group over the years has described the members as hardworking entrepreneurs.

Jaris is a rural community with poor access to full-time job opportunities. The main methods of subsistence are through activities in agricultural production such as the rearing of pigs and the production of sugar cane, among others. The women of this group are unanimously involved in the rearing and sale of pork products. This loan will be used by each group member to make investments in livestock, animal feed, nutrients and construction materials (to build pig pens).

Flora V. S. is the elected president of this group. Flora is a 55-year-old mother of eight who lives with her family in Jaris. She dedicates the mornings and afternoons to the care of her livestock. She feeds and cleans her pigs twice a day, when necessary, and her husband helps her. When she isn't taking care of the animals, Flora is carrying out various household responsibilities, including cooking and cleaning. The rearing of pigs is the sole source of family income for Flora and her family.

Flora's goals are to be able to earn enough income from the sale of pork products to enable the provision of a higher standard of living for her family. An obstacle she faces is the fluctuating prices for nutrients, pig food and livestock. An increase in prices for any one of these will eat away at her profits, as will a decrease in the market value of pork products.

The members of this group have been able to access credit, as well as favorable loan conditions, through the group lending model. In traditional financial institutions, a loan guarantor is needed in order to be approved for a loan. With the group lending model, each member acts as a guarantor for another member, which makes it easier for the poor to access loans. The women have grown to know each other on a deep and personal level, as they have lived in the same community for most of their lives. As a group, each woman makes a guarantee to make repayments and support others if they have trouble making repayments. This will be the group's fourth loan with Kiva partner, Fundación Mujer. Over the years, the members have observed loans contributing to an overall improvement in living conditions, enabling mothers to better support their children's studies, good health and livelihoods. The women of this group act as a support network for one another. Monthly meetings and group activities allow the women to take a break from their daily routines, contribute to a positive change in their community, and provide an opportunity to get together with other women. Working together on various problems, whether they are rooted in family or business, has allowed the women to develop feelings of solidarity and strength within the group.

Additional Information

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.

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.

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.

About Costa Rica

  • $12,900
    Average annual income
  • 3
    View loans »
    Costa Rica Loans Fundraising
  • $4,836,900
    Funds lent in using Kiva
  • 505.5
    Costa Rica Colones (CRC) = $1 USD

Success!! The loan was 100% repaid

A portion of The Women´s Bank Of Forging Goals And Dreams Group's $2,375 loan helped a member for the purchase of pigs and animal feed/nutrients.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Nov 25, 2010
Nov 29, 2010
Currency Exchange Loss:
Dec 15, 2011