Mujeres Benditas Group
Maria is on her fifth loan with Friendship Bridge. The 54-year-old has never attended school and is divorced. She has six children, and four of them are still at home. Maria is an entrepreneur and works hard every day to support her children. She buys and sells vegetables and fruit, traveling to the market, which is located 20 minutes from her home, to sell her products on Tuesdays and Fridays from 6:00 a.m. to 12:00 p.m. During the rest of the week, Maria and her family work in the field growing green beans and broccoli. Maria only started selling fruit five years ago, but her business is growing, which allows her to dedicate more money to raising crops.
Maria’s dream is to expand her businesses so that she has a larger variety of products to sell. She wants to use her income to help her younger children continue in school; most of her older children only have a sixth-grade education. With her new loan, she will be purchasing seeds for planting more green beans and broccoli, as well as purchasing fruits and vegetables for resale.
Like Maria, the other eight women in the Mujeres Benditas Trust Bank are so thankful to have the support of KIVA investors. The women realize that KIVA investors work hard like they do and appreciate that others are willing to share their earnings with women in Guatemala so that they can create better opportunities for their children.
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