Mujeres Chimaltecas Group
The President of the Trust Bank is 44-year-old Maria Josefina. She is married with four children. Her husband works in construction. The couple is really pleased that they have been able to send their children to school. Two of their children have completed high school while the other two are in 5th and 9th grade. They have high hopes for each of them.
For many years, Maria Josefina worked as a street vendor selling food. A few years ago, she took a real step up when she contacted the manager of a nearby clothing store in hopes that she could sell her food there. Now, Maria Josefina is thrilled to have 100 regular customers who she serves daily meals to from Monday through Friday. She rises early to prepare for each day’s meals. Her hard work has paid off and she can count on a fixed monthly income. Her ultimate goal is to be self-sustaining and not in need of a loan.
Maria Josefina, as well as the other women in her Trust Bank, appreciates the financial support that generous people from other countries give them. In addition, they are happy with the informative trainings that Friendship Bridge provides on relevant topics like budgeting, business management, customer service, women’s health, self-esteem and children’s rights. The combination of a loan and education enables these women to move forward, creating a better life for themselves, their families and their communities.
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