Mariela is a weaver. She uses the ancient back-strap loom method, learned from her mother from a young age, to hand-weave a variety of products. She sells her pieces on the side of a road in a market that is about 20 minutes from her home.
Despite her young age, Mariela believes that she has overcome many challenges in her life. Although she was an outstanding student, family circumstances forced her to drop out of school in the sixth grade. She remains very positive and is focusing her energy and passion on building her business.
Mariela is so excited to have found Friendship Bridge. This will be her first loan cycle with the organization and her first experience with a microloan. With her new loan, she plans to buy a sewing machine to start a new garment business. Mariela says, "I am so happy to receive this loan, since it will ignite my dream."
Along with Mariela, eight additional women make up the Trust Bank Corazon (heart). These ladies meet once a month with Friendship Bridge staff to receive a participatory non-formal education, which will help to reinforce their knowledge in important aspects in daily life, such as women's health, self-esteem, hygiene, loan and business management and administration, among others.
Mariela indicates that she is very happy to be able to meet with her friends for these meetings over next 12 months (the length of the loan). Her loan will not only provide essential capital to start her dream business, but the participatory lessons will also allow her to continue her education.
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