Nuevo Amanecer Xecam Group
One of the members of the Trust Bank, Lucia, is 45 years old and has four children with her husband, Mason. Three of Lucia’s children are still in school, and the other just completed high school. Lucia joined the Nuevo Amanecer Xecam Trust Bank through an invitation from a friend who currently is a FB client. Lucia and her family are dedicated to their animal husbandry business, which includes four pigs and 24 chickens (most of which are roosters). She joined Friendship Bridge so she could expand her business.
Lucia is very excited for the opportunity provided by her Trust Bank and by Friendship Bridge to obtain a loan, which will serve to buy hens. She hopes to take advantage of raising more chickens and selling eggs. Lucia's long-term dream is to obtain her own farm, because she is currently renting. Her short-term goal is to see her second child graduate from high school next year. Through the participatory non-formal education lessons provided by Friendship Bridge at the monthly loan repayment meetings, Lucia has learned how to effectively support her children’s education. She and the other women have also benefited from lessons on business practices, money management, self-esteem, women’s rights and health. These lessons not only provide the women with valuable information regarding their businesses and their families’ health, but also foster a community of support among the women.
Lucia and the other 13 women in the Trust Bank are both surprised and grateful that people from elsewhere have focused their attention on their small village and have given them the opportunity to make their dreams a reality.
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