Ukux Kem Group
Hermelinda Josefina is a 23-year old woman and a member the Ukux Kem Trust Bank. Despite coming from a large family of ten siblings, she was able to attend high school, study secretarial skills and receive a diploma. Upon graduating, she searched tirelessly for a secretary position but with the economic crisis, she could not find one. Being single at the age of 23, she still needed an income to survive and help her parents care for the younger siblings.
She and her two brothers started a textile business, making cortes (traditional skirts) for several different cultures. Their products are so beautiful that they soon found a customer who consistently orders from them. It was clear their business was growing and they needed capital to keep up with supply. Hermelinda found Friendship Bridge and the Ukux Kem Trust Bank.
With her loan, Hermelinda will buy yarn in bulk and start working in orders for Christmas products. “I am so grateful for this loan. My brothers and I have the desire to make our business bigger but it is not possible without money,” explains Hermelinda. “Once we earn extra profit, we will start to save to open a family bakery.”
Hermelinda enjoys the monthly meetings with the Ukux Kem Trust Bank. The Trust Bank receives educational lessons from the loan officers on topics including women's health, self esteem, children's rights, business administration, customer service, and budgeting. This helps all the women manage their businesses and remain competitive in the market. The women would like to thank each and every one of the people who invest in them through KIVA. “Without them,” explains Hermelinda, “there would be no micro-credit opportunity for us, and business development would be very slow.”
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