Update on FelipaFelipa is 45 years old, married and has 3 children. She lives with her husband and a daughter. She has a history with the Fundación and has always been punctual and responsible. She sold gold, perfumes and curtains in the street. About a year ago she lost a daughter and she suffered a bout of depression and quit her commercial activity.
Now she has two photocopy machines she inherited from the daughter who passed away. She wants to provide photocopy services and sell school supplies as she lives close to the local school. Her clients are neighbors, friends and teachers.
She arranges to see her remaining children and grandchild every day. She has her husband's help in making decisions and her daughter will watch the shop when she has to go out. She has had emotional difficulties but thanks to some psychological help she has been able to move forward and restart this activity to keep herself busy. She can also help a daughter and granddaughter thus improving her living conditions.
Previous Loan DetailsFelipa, 43, is married and has three children. She lives with her husband and a daughter. She is humble and very hardworking. She has history with the Fundación and has always been noted for her punctuality and responsibility. She is an ambulatory gold, fine perfume and curtains merchant.... More from Felipa's previous loan »
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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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