Union Y Fuerza Group
The ten women who comprise the "Unión y Fuerza" (Union and Strength) group are coming together for their first loan from Friendship Bridge. They know each other well, raising their families in the same neighborhood of Chimaltenango. The ten women represent various aspects of modern and traditional Guatemala, both in their dress and their businesses.
About half of the women hold tight to their traditional upbringing, wearing the "huipiles" (traditional Mayan blouse) that they also weave to sell.
They will use their loans to invest in buying thread in bulk, something they have not been able to purchase before. Until now, every time they receive an order for a huipil, they must travel to the market and purchase only enough thread for the one blouse. This raises the cost of the thread, because they don’t receive a bulk discount, and it also is very time consuming. Now they will be able to purchase a large amount of thread that will serve them for many months.
These women also have small farms where they grow corn and beans, as well as raising pigs, cows, and chickens. With part of their loan, they will purchase seed, fertilizer, and feed for the animals.
The remaining women, dressed in jeans and button-down shirts, while remaining faithful to their Mayan upbringing, have also connected to the modern life in the nearby capital city of Guatemala. These women have small "tiendas" (shops) where they sell soft drinks, snacks, and daily necessities, such as shampoo and toilet paper. They also sell products from catalogs, mainly shoes, clothes, make-up and perfume. Their stores are a great outlet for selling from catalogs, because they already have a customer base that are coming to rely on them for other items they can order.
Their loans will be used to restock their stores. They are very excited about being able to expand their variety and have full shelves. Now, they often run out of product and have empty shelves that don’t look very inviting to passersby. They will also order popular items from the catalogs to have on hand in their stores, which will enable them to buy at a bulk rate and help to expand their on-hand inventory.
Whether dressed in jeans or woven skirts, the ten women have a common dream: to better provide for their families. They will work together over the next six months, supporting each other with loan advice and sharing ideas and best practices. While a bit nervous about taking on a new challenge, they are confident in their abilities to generate income with their new loan. They are asking for a group loan of 19,000 quetzales, about $2500 USD.
The photo is of the ten women and their 'facilitadora' (loan officer) outside the office of Friendship Bridge in Chimaltenango.
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