49-year old Felisa is taking her fifth loan. Felisa never attended school. She has eight children (six boys and two girls) with her husband, who works as a day laborer. Felisa's business is both hand embroidery and machine embroidery, techniques that Felisa began learning from her family as a child. With her previous loans, Felisa has been able to buy three sewing machines for herself, her daughter in-law, and one of her sons. The three of them have started a small business, which has been a blessing for them because it generates income for all three of their families. Felisa is very satisfied with her efforts, as the profits from her business have ensured that her eldest children can remain in school through high school.
Felisa is happy to be taking a new loan with Friendship Bridge, as the new loan will help her to buy yarn and fabric in large quantities to meet the demand of three new potential clients. To sell the maximum amount of her products, Felisa regularly travels to another market, which is a huge handicraft market and the largest indigenous marketplace in Central America located about three hours away from her home.
Felisa is an active participant in Trust Bank loan repayment meetings and appreciates the informal education lessons delivered by Friendship Bridge each month. Felisa and the other women in the Celestial Trust Bank are able to share and comment on educational lessons ranging from business practices and money management to self-esteem, women’s rights, health and how to support their children’s education. 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.
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