Girasol Ii Group
The women from the Girasol II loan group are from Santa Catarina Ixtahuacan, a very small town in the highlands. They enjoy working together and are excited to access a loan.
The women that comprise the Girasol II group raise livestock for a living. They buy and sell cows and bulls of different ages. Some of them sell the grown animal while others butcher it and sell the meat to butcher shops. They raise the cattle over a period of time and have established a business cycle. Most of their families have other means of income apart from raising livestock and dedicate a part of their land for grazing purposes.
Despite the rise in the price of a grown cow or bull from 300 to 800 USD, purchasing calves and raising them involve substantial costs. The animals are raised for 7 to 8 months. Since raising cattle involves an initial investment, being able to access loans is very important. Loans give these families a safety net which allows them to invest in feed, corn and vitamins for the cattle.
The credit has allowed them to grow their business and investments bit by bit. Most of these women began with small loans of under 50 USD. Today, they borrow and repay loans that are on average from 300 to 400 USD.
Reyna G. began her micro-enterprise raising and selling chicken. Currently, she is raising half a dozen of her own cattle. She described her venture as separate from her husband’s affairs. She takes out the loan, raises the cattle, sells the meat and repays the loans after making a profit. The loans provide her with the flexibility to maintain her own cattle business while raising three children.
Money is on these womens' minds very often, so that they can support a happy, healthy and prosperous family. Their livelihood is contingent upon having the peace of mind that there is cash to cover expenses while they build a sustainable business.
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