One of the 13 women in this Trust Bank is Santos, a 33-year old mother of three (two boys and one girl). While Santos herself was never able to attend school, she is happy to share that two of her children are already in primary school, which makes her very proud. In addition to running a small weaving business, Santos is currently engaged in animal husbandry.
With her first loan from Friendship Bridge, Santos began raising pigs. She started small, with only one pig, which she eventually sold for money that she put towards her children's education. Thanks to this first loan, Santos was also able to save some money, which she plans to combine with her second loan from Friendship Bridge to buy three more pigs, as well as thread for her weaving. Before Friendship Bridge, Santos had been unable to receive loans from formal banks, due to of her lack of education. This severely limited her ability to run a successful business. Now, thanks to Friendship Bridge, Santos has access to working capital and is thankful for the opportunity to overcome her difficult situation.
Santos's dream is to see her business grow and provide more money for her family. She wants to, one day, have a bigger farm and build her own home (as she is currently renting). Santos meets with her Trust Bank once a month for training, where they participate in educational lessons on business, money management, self-esteem, women’s rights, health and how to support their children’s education. These lessons, combined with their loans, help them to provide a better life for themselves and their families. The women of Chucuxcabel are grateful for the people who trust in them, enabling them to obtain loans for their businesses and overcome the poverty that surrounds them.
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