Mujeres Chuisequec Ii Group
They have traveled an hour from their community of Concepción, where the soil is rich and the climate good, allowing for year-round farming. All but two of the eighteen women have small farms, where they grow potatoes, carrots, onions, radishes, beans, broccoli, cauliflower, tomatoes, lemongrass, and chamomile (quite a variety!).
They whisper to each other in their native language Kaqchiquel, eagerly awaiting approval of the loans they have requested.
Eight of the women are asking for a group loan of 18,500 quetzales ($2425), ranging from $150 to $400 each. Of the eight, six will invest in seeds and fertilizer for their farms.
One woman is an artisan, weaving beautiful ‘huipiles’, traditional Mayan blouses known for their intricate and colorful designs. She will invest in thread for her weavings.
Another woman is a ‘comerciante’ (commerce women), buying a variety of goods in bulk and selling them at local markets. With her loan, she will buy a greater quantity of each item, lowering the price per item and increasing her profits.
Each woman of Mujeres Chuisequéc has a family to take care of; some even have up to ten children.
They express that everything they do is to improve the lives of their children so they can receive an education and learn to read and write. This will open them new opportunities and avoid them the suffering their mothers have had to endure.
As they go to sign their names, all but two sign with a thumbprint, indicating they cannot write. But they sign with pride, knowing that with this loan they are doing everything in their power to give their children the right tools to learn and later on sign their names with a pen.
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