Matilde Agüero is the treasurer of Banco Mujer Fuentes de Vida (Sources of Life Women's Bank). She is a very hard-working woman who is 26 years old and has two small children. She is a single mother and the head of household. This business woman has a lot of experience selling clothing and shoes and it is her business that allows her to provide for her children. She and her group have received three previous loans, and for Matilde, it is this financing that has given her the opportunity to start her business, consolidate it, and thus, generate the income necessary to improve her living conditions. She is going to invest this loan in purchasing merchandise such as clothing and shoes for women and children, as well as replenish her line of men's clothing since Father's Day is approaching. In addition, she will fulfill the orders that her customers make.
Matilde's group is made up of three other members who are going to invest in their farming businesses.
Matilde Agüero es la tesorera de Banco Mujer Fuentes de Vida, es una mujer muy trabajadora, tiene 26 años, 2 niños pequeños, es madre soltera y jefa de hogar. Está comerciante tiene mucha experiencia en la venta de ropa y zapatos, y es su negocio el que le permite sacar adelante a sus hijos. Ella y su grupo han recibido 3 créditos anteriormente, y para Matilde son los financiamientos los que le dieron la oportunidad de iniciar su negocio, consolidarlo y así generar los ingresos para mejorar sus condiciones de vida. El préstamo lo va a invertir en la compra de mercadería como; ropa para damas, niños, zapatos, así como reforzar la línea de ropa para hombres ya que se acerca el Día del Padre, además de cumplir con pedidos que le hacen sus clientes.
El grupo de Matilde está compuesto por 3 socias mas que van a invertir en actividades comerciales agropecuarias.
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.