Mujeres Chuisequec I Group
They gather quickly and expectantly, dressed in their traditional Mayan clothing, they calm their babies and whisper to each other in their native language, Kaqchiquel, as they wait. The loan officer begins, and all eyes are on her.
Mujeres Chuisequéc have been together for two years now. They began with three women and are now up to eighteen. The word spread quickly about the loans from Friendship Bridge and how they helped business, and the eighteen women in the room are eager and hopeful, ready to put their loans to good use.
All but two of them have small farms in which they grow potatoes, carrots, onions, radishes, beans, broccoli, cauliflower, tomatoes, lemongrass, and chamomile. The farms are located in Concepción, an area with a temperate climate and a rich soil that allows for year-round farming. Ten of the women are asking for a group loan of 21,500 quetzales ($2825), ranging from $150 to $400, all which will be invested in farming. They will use the money to purchase seeds and fertilizer.
The women of Mujeres Chuisequéc have large families- up to ten kids each. As they go to sign their names, all but two of them sign with a thumbprint, indicating they cannot write. The women express that everything they do is for their children. They work hard every day and do everything possible to provide for their families so that their children can receive an education and have lives with more opportunities and far less suffering than what they have had to endure.
About Friendship BridgeThis 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.
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Success!! The loan was 100% repaid