Rice, Beans, and an Inspired Hypothesis
10 October 2009 at 09:04 Alana 12 comments
By Alana Solimeo, KF9 Costa Rica
After six months of subsisting on rice and beans while living in Boulder, Colorado, in order to save scrupulously in hopes of being invited to the Kiva Fellows Program, where do I stand? In San Jose, Costa Rica…eating nothing but rice and beans. I am finally here and don’t let that intro fool you; I’m exactly where I want to be. Three days into the fellowship and I already have my two favorite things planned: a weekend beach trip and a research topic! (No, I’m not a student just a serial nerd.)
I have been placed with EDESA, an MFI that was formed as a response to an increasing demand for loans to the Community Credit Enterprises (ECCs) that are all throughout Costa Rica, primarily in under-targeted rural areas. ECCs are legal businesses, member/shareholder/borrower-owned and run that, after their lending capacity expands past that which can be funded by the initial “IPO,” seek more formal funding. EDESA loops back into the story rather seamlessly at this point. After the ECCs have been well-established, trained, experienced, demonstrated success and increased capacity, EDESA becomes a source of funding and the ECC becomes a member/shareholder/borrower of EDESA!
Needless to say, their microfinance model is unique, and it’s setting off my dorky, academic-research-paper-writing inclinations like mad. Young like Kiva, with a far reach, a unique model, and great ambitions, EDESA is a slight anomaly. This makes me wonder, if Kiva’s explanations for low cost delivery method are technology and partnerships, what’s EDESA’s explanation?
Tempted at this point to present my hypothesis, I think I’ll give myself a full week on the job first. Check back in to the Kiva Fellows Blog to see how my perspective on success at the MFI level develops and evolves. Join EDESA’s lending team to stay up to date with my journeys visiting ECCs and their borrowers throughout Costa Rica.
For more detailed descriptions of both EDESA and the ECC’s microfinance models please refer back to Kiva Fellow Megan Montgomery’s blog from her time here in San Jose.
Entry filed under: Americas, Costa Rica, EDESA. Tags: Alana Solimeo, EDESA, KF9, Kiva Fellows, kiva.org, microfinance Costa Rica.
1. I might be falling for microfinance. « Kiva Stories from the Field | 4 November 2009 at 11:02
[...] after letting the excitement of Kiva, Costa Rica, and research topics (exhibited in previous post Rice, Beans and an Inspired Hypothesis) settle that I might want to take a step back. The thing is I hit the ground running here, thanks [...]
2. Steve U. | 27 October 2009 at 16:06
Alana, you are amazing. Your writing is so eloquent not to mention what you are doing being levels above my comprehension! I cannot wait to see what the future holds for you, Kiva, EDESA and ECC!! Keep us “little people” in the loop!!
3. Dave | 27 October 2009 at 09:34
Rice + Beans = Fuel for Success!!
Keep up the amazing work! Soon those rice and beans will become caviar and crackers! errr maybe just a big ole slice of pizza
4. Avani | 19 October 2009 at 13:42
Sign me up for some of those nerd/dork projects. I loved the explanation of the EDESA model Alana, would love to hear more.
5. MJ | 18 October 2009 at 04:41
Sounds like an exciting adventure, Alana. I’m looking forward to reading more of your blogging.
6. Jan & John, KivaFriends | 14 October 2009 at 11:50
EDESA is one of our favourite MFI’s. Thanks for going there Alana. We appreciate your being our eyes and ears on the spot and we wait for your impressions. thanx, jan
7. Gina | 13 October 2009 at 14:28
Alana, Great explanation for lay people like me. Don’t forget to eat veggies and fruit. xxoo
8. bkbriankelly | 13 October 2009 at 04:32
I like it….and maybe we can add a special “nerd/dork” category to KF9 projects
9. robpacker | 11 October 2009 at 21:19
Hi Alana,
Really interesting model – looking forward to reading your research!
Rob
10. Adam Preston | 11 October 2009 at 21:19
Hi Alana,
Nice hearing from you! I love hearing how these community based financial service providers actually work. When we talk about “Connecting People through lending”, the relationships between these organizations (ECC, MFI, Kiva) are those connections.
Looking forward to your research project.
11. howard | 11 October 2009 at 17:47
Congratulations and thanks for your efforts and sacrifice – past, present and future. Later on when your schedule might get more hectic and your ‘free time’ and little more limited, keep the trips to the beach active and let your research project become plan B. You know, all work and no play etc etc etc.
12. Gemma | 10 October 2009 at 21:21
Hey Alana, good to hear that you’re enjoying Costa Rica–and the rice and beans
Have fun researching!