Mujeres Las Cristalinas Group
The Maya Kakchikel women that form the group “Las Mujeres Cristalinas” come from Aldea Paraxquin. Paraxquin is a village located on the outskirts of Tecpán, a town widely known for its weavings.
Even though this group of women just requested their first loans, they have already developed a refined managerial skill, portfolio diversification. The vast majority of women engage in at least two economic activities. Most of the women work as weavers, ranchers and farmers.
The loans that are being requested are going to be used to buy thread to weave. In addition, they’ll be used to buy cattle, chickens and feed. Currently, investing in animal husbandry is an interesting option, because it is a very profitable activity. Plus, it allows the women to do other activities while raising the animals.
During the disbursement meeting, one could feel the excitement in the environment because the clients were thrilled about receiving their first loan from Friendship Bridge. For them, this loan signifies a window into a world of opportunities. Additionally, they know that if they solidify a good standing relationship with Friendship Bridge, it will allow them to access greater loans in the future.
Microfinance leads to many amazing things. Poor women are given an opportunity to succeed by providing them with credit. While, at the same time, they become an important part of the local economy. Economically active women become attractive to microfiance institutions that have to compete among each other to provide a better service to them. Many a promising advance has been accomplished and, thanks to your support, many more will happen.
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