Las Azucenas De Xenacoj Group
Mayra is a single, 19-year-old woman with seven siblings. She is a first-year nursing student and looks forward to a successful nursing career. As her family does not have the financial resources to fund her education, Myra is requesting a loan from Friendship Bridge for her textile business. She will use her loan to purchase yarn and thread to create beautiful pieces to sell. In this way, she can take care of her educational expenses and any additional ones as well.
Mayra looks forward to earning her nursing degree. She is most aware of the need for medical personnel in her community, both in small clinics and health centers. As she speaks both Spanish and her local Mayan dialect, she feels that she will be an asset to the people whom she will serve. She looks forward to serving her patients with understanding and compassion. Mayra will work at her business during the week and has scheduled her nursing classes over the weekends.
Mayra and the rest of the ladies of Las Azucenas de Xenacoj, are so pleased and excited to receive a microloan. With this special opportunity, they will be able to improve their own lives and the lives of their family members. The community will progress, as well. Mayra will play a significant role in the future of the town.
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