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El Mirador Group
In this Group: Catarina, Juana, Clara, Petrona, Bacilia, Juana, Isabel, Petrona, María, Margarita, Casilda, María, Pabla, Vilma, Matilda
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The women of ComUnidad or communal bank “El Mirador at first appeared very timid. Nevertheless, after a few minutes of questioning they began to show their personalities and entrepreneurial spirit.

Many of the women have dedicated themselves to weaving traditional clothing of the region or working as housekeepers from their homes. However, little by little they soon discovered an untapped market for nutritional foods at different levels in the local economy. It is because of this vision and enterprising drive that Friendship Bridge has decided to support them with a loan, with help from Kiva. The average loan requested by each woman is of Q200 (Guatemalen Quetzales) or $264 USD. This means that these women are willing to invest a considerable amount for the improvement of their business.

The women will use the loan for varioU. activities. Many of them will use the loan to purchase fertilizer, seeds and cultivating tools in order to plant and harvest vegetables and sell them in the local market. The loan will also be used to purchase fruit and vegetables in bulk and resell them in the local market. The women will also purchase maize in bulk in order to prepare tortillas for later sale. Other women will purchase chickens and pigs to help grow their business of raising animals.

The dreams of these women go hand-in-hand with the wellbeing of their children. These women would like to receive this loan so that they can invest in their business. The money earned will allow them to purchase better clothes for their children, fix and enlarge their homes so that their children can live comfortably, and to pay for their children’s schooling. This will allow their children to enjoy a better future. Finally, the dream of one woman was the other women would be in God’s graces helping them pay on time and allowing the group to become a solid group of colleagues and friends. Friendship Bridge will do what is required to monitor and distribute the loan funds, will allocate the appropriate loan amount to each borrower and will establish guidelines for this to take place.

Translated from Spanish by Christian Garcia, Kiva Volunteer.





























Las señoras que constituyen la ComUnidad o banco comunal “El Mirador” son unas mujeres que al comienzo reflejaban una mirada temerosa. Sin embargo, al pasar los minutos y las preguntas ellas empezaron a sacar a relucir su personalidad y su actitud empresarial.

Mucha de estas señoras han sido artesanas de pequeñas, tejiendo los trajes típicos de su región o trabajando dentro de sU. casas como empleadas domésticas. Pero, poco a poco fueron descubriendo un mercado virgen para la venta de productos alimenticios en distintos niveles de la economía local. Es por esa visión y empuje empresarial que Friendship Bridge ha decidido apoyarlas con un crédito, por medio de los prestamistas de Kiva. El promedio del primer crédito solicitado por cada señora es de Q2000 o U.$264. Eso quiere decir que estas señoras están dispuestas a invertir una cantidad considerable para el mejoramiento de su negocio.

Las señoras van a usar su préstamo para distintas actividades. Muchas de las señoras van a usar su préstamo para comprar fertilizante, semillas y herramientas de cultivo para poder sembrar y cosechar vegetales y venderlos en el mercado local. También, el préstamo se va a utilizar para comprar frutas y verduras al por mayor y revenderlas en el mercado local. Asimismo, ellas van a comprar maíz al por mayor para prepara tortillas y luego venderlas. Otras señoras van a comprar pollos y cerdos para agrandar su negocio de crianza de animales.

Los sueños de estas señoras van de la mano con el bienestar de sU. hijos. Ellas quieren solicitar este préstamo para que de esa manera ellas puedan invertir en su negocio y con el dinero ganado puedan comprarles mejor ropa a sU. hijos, arreglar y agrandar sU. casas para que sU. hijos puedan vivir con relativa comodidad y para que ellas puedan mandar sU. hijos al colegio. De esa manera sU. hijos puedan disfrutar de un mejor futuro. Finalmente, el sueño que una señora tuvo fue que el resto de sU. compañeras estén en la gracia de Dios para que todas puedan pagar a tiempo y de esa manera construir un grupo sólido de socias y amigas. Friendship Bridge va a hacer todo lo posible mediante capacitaciones, otorgando el crédito apropiado a la necesidad de la clienta y la fomentación de valores para que eso suceda.

Additional Information

About Friendship Bridge

This loan is administered by Friendship Bridge (FB), a nonprofit, nongovernmental organization that empowers thousands of impoverished Guatemalan women through its Microcredit Plus program. The program combines small loans averaging US$350 for four-to-twelve month loan terms with non-formal, participatory education.

As FB clients, women start, expand, or diversify their businesses and learn practical lessons on topics including business, health, and self-esteem. FB’s clients borrow as a group, forming Trust Banks (groups of 7-25 women who serve as co-guarantors of the loan and act as a self-regulating support network).

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.

About Guatemala

  • $4,155
    Average annual income
  • 59
    View loans »
    Guatemala Loans Fundraising
  • $8,320,750
    Funds lent in using Kiva
  • 7.7
    Guatemala Quetzales (GTQ) = $1 USD

Success!! The loan was 100% repaid

A portion of El Mirador Group's $3,900 loan helped a member purchase tools and supplies for the cultivation and harvesting of vegetables. Purchase of animals to raise and resell. Purchase of quality materials for embroidery. Purchase of maiz to prepare tortillas for sale. Purchase of vegetables and fruit in bulk to resell.

Comprar herramientas e insumos de cultivo para la siembra de vegetales. Comprar animales para su crianza y reventa. Comprar materia prima para sus tejidos. Comprar maíz para preparar tortillas y luego venderlas. Comprar verduras y frutas al por mayor para su respectiva reventa.

100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Disbursed:
Nov 16, 2007
Listed
Nov 2, 2007
Currency Exchange Loss:
Covered
Ended:
May 16, 2008