Patzutzun 1 Group


Status: Paid Back

$2,025.00   Loan Request
$2,025.00   Paid Back

About the Group

Group Name: Patzutzun 1 Group
Group Members: Dominga Balam
Crecensia Salazar
Alejandra Solis
Juana Leja
Vincenta Leja
Bartola Juracan
Location: Patzun, Chimaltenango, Guatemala
Activity: Farming

About the Loan

Loan Amount: $2,025.00
Loan Use: invest in inventory for their businesses and buy at better prices
Repayment Term: 15 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Aug 22, 2008
Date Disbursed: Sep 5, 2008
Date Funded:Aug 22, 2008
Loan Ended:Nov 15, 2009

About the Country

Country:Guatemala
Avg Annual Income:$4,155.00
Currency:Guatemala Quetzales (GTQ)
Exchange Rate:7.4759 GTQ = 1 USD



Crecencia tells me there is not much happening in the village of Patzutzun where they are from. Most of them do not have running water in their homes. Their living situation is often not very good. Following the suggestion of one group member's husband, they formed the group and travelled to the office of Friendship Bridge in Sololá to apply for a loan. The bonding between the group members is strong because they know each other very well. There is a lot of laughing when Crecencia tells me with a flashing smile how she trusts and loves everybody equally and very much.

Like most of the women, Dominga, the president of the group, has a business dealing in agriculture. She has some chickens and grows vegetables such as carrots and onions. Some group members buy and re-sell various condiments such as beans and fruit and vegetables. They will sell them at different markets. There are also some women who sell tortillas and/or bread. The ones who have animals have raised animals their whole life. This is a very common way to try to make money in Patzutzun.

For many of the members of this group, it is the first time they've received a loan through Friendship Bridge. They have ambitious plans such as: increasing the amount of products in their stores and using their land as economically as possible. The loan will enable them to buy better seeds at lower costs. By using the credit to buy in bulk, the women who buy and sell vegetables will be able to buy at lower prices and thus be able to make more profit.

Crecencia tells me their children all go to school, but need more supplies to be able to study well. The lacking pencils, paper, and schoolbooks are something she wants to provide them with first. When she is able to buy more, she really wants to buy them better school uniforms. The uniforms they wear now were bought for other family members and don't fit very well. The others agree, it is their biggest wish that their children have a chance at a better future!





About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Learn more

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Journal entries for Patzutzun 1 Group


Loan has been disbursed
 
Entrepreneur: Patzutzun 1 Group
Location: Patzun, Chimaltenango, Guatemala

Thank you for your loan. It has been disbursed to the Patzutzun 1 group, consisting of Dominga Balam, Crecensia Salazar, Alejandra Solis, Juana Leja, Vincenta Leja, Bartola Juracan by Friendship Bridge in Guatemala. We are excited to watch this business grow. Over the next 13 months, Friendship Bridge will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Patzun, Chimaltenango, Guatemala
Sep 6, 2008
Comments (1)

Kiva Help Repayment Schedule for Patzutzun 1 Group

  Expected Repayments Actual Repayments Comments
December 2008 $155.77 $156.00 Repayment Received
January 2009 $155.77 $155.54 Repayment Received
February 2009 $155.77 $155.77 Repayment Received
March 2009 $155.77 $155.77 Repayment Received
April 2009 $155.77 $155.77 Repayment Received
May 2009 $155.77 $155.77 Repayment Received
June 2009 $155.77 $155.76 Repayment Received
July 2009 $155.77 $155.77 Repayment Received
August 2009 $155.77 $155.77 Repayment Received
September 2009 $155.77 $155.78 Repayment Received
October 2009 $155.77 $155.77 Repayment Received
November 2009 $155.77 $155.77 Repayment Received
December 2009 $155.76 $155.76 Repayment Received