Nueva Vida Group
Maria became a Friendship Bridge client a couple of years ago because she was determined to make some money on her own to help with household expenses and to pay for her children’s education. With her first loan, she started a business raising chickens. Today Maria has 80 chickens and she employs 3 part-time employees. She is so proud to be able to support others.
A small part of Maria´s credit is invested in the production of sweatshirts, which her son and her husband produce. Thanks to Maria, her family is able to work together. Maria’s husband is so proud of her. One of Maria’s dreams is to have a large farm, where she not only raises chickens, but also can raise goats or even bulls, but for that she needs to make a little more income. It is towards this dream that Maria puts much time and effort in her current business.
Maria will use this new loan to buy more chickens… and a goat! Maria is currently the treasurer of her trust bank, Nueva Vida (new life), which is composed of nine women whose businesses range from raising livestock, to making garments, to general trading and other activities. This will be the group’s fourth loan cycle together.
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