Banco Mujer Unidas Hacia El Progreso Group
She found out about the services of Fundación Mujer from a member of another bank. This is her first loan. Her productive activity is a recycling center where they receive all the waste material of the whole community, which they process and sell to big industry. She has had her business for over 5 years, and the principal obstacle that she faces is the lack of money to invest in her business. The loan will be used to purchase recyclable material to make her business grow, generate employment for her community and improve her quality of life and that of her family. For this she has her goals and objectives well-defined. Among them are: to have her own land for her business, because up until now she has to rent facilities, and to be able to pay for her children’s university studies. These are some of her dreams that she aims to achieve with hard work and determination.
The loan will be a big help to Elizabeth and the 9 members of the bank that work in commerce and poultry farming.
Se enteró de los servicios de Fundación Mujer por medio de una integrante de otro banco, este es su primer crédito, y su actividad productiva es un Centro de Reciclaje, donde reciben el material de desecho de toda la comunidad, que procesan y venden a grandes industrias. La clienta tiene su negocio hace más de 5 años, y el principal obstáculo que ha tenido que enfrentar es la falta de dinero para invertir en su actividad, el préstamo se va a utilizar en la compra de material reciclable para hacer crecer su negocio, generar una fuente de empleo para su comunidad y mejorar la calidad de vida de ella y su familia. Por eso tiene sus metas y objetivos bien definidos, entre ellos están, tener un terreno propio para el negocio, porque hasta ahora tiene que alquilar unas instalaciones, además poder pagarle a sus hijos los estudios universitarios. Estos son algunos de los sueños que se ha propuesto lograr con mucho trabajo y dedicación.
El crédito va hacer de gran ayuda para Elizabeth y las 9 integrantes del banco, que se dedican al comercio y avicultura.
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.
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Success!! The loan was 100% repaid