Las Girasoles Xenacoj Group
Crisanta is a 55-year-old mother of four boys. She is preliterate because when she was young, her parents were unable to provide her with the opportunity to attend school. Her husband works in the masonry business. Crisanta works in fabric and textile production, which has been her business for quite some time. In addition, she purchases and sells textiles. Crisanta travels by bus to a market three hours from her home to sell not only her own products but those of her ten providers as well.
Crisanta is excited about the loan she is about to receive from Friendship Bridge. It will allow her to buy yarn and fabric to make more products. She is happy because two of her boys are enrolled in school this year, and one of them is about to start high school. Crisanta hopes to continue to support him so that he can graduate in two years.
Both Crisanta and the other ladies of the Trust Bank, Los Girasoles Xenacoj, enjoy the training that they receive during the monthly meeting with Friendship Bridge. They especially like the icebreaker, which they find is a real stress reliever. They find the educational topics beneficial as well, especially the one about children’s rights, which was the topic of last year’s November meeting. The women want to express their deep appreciation to Kiva investors. With these loans, they have a huge opportunity to realize significant changes in their lives.
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