San Miguel Xenacoj Group
Dominga is a 40-year-old member of the Trust Bank. She is married and has four children (three girls and one boy). Dominga owns a storefront, which she has had for few years. She was pleased to invest her first loan from Friendship Bridge in her business. She mentioned that before making a final choice about her current business, she explored other options. However, she decided that having a storefront business was a good fit for her and her family. It is located in a small room of her house, so she can attend to it from home. This business has helped Dominga to support her children, and they help her with small jobs or assisting her in the business.
This is Dominga's second loan cycle with Friendship Bridge, and her first with Kiva. She feels very grateful to have this monetary support that allows her to grow financially. She plans to buy more inventory for her business and will purchase useful items like rice, sugar, vegetables, canned goods and other products that are in great demand. In this way, she can continue serving her current clients and attract new ones.
The women of the Trust Bank, San Miguel Xenacoj, would like to thank Kiva investors for this valuable opportunity to secure a loan. In this way, they feel that they are on a progressive path that will lead to a better future 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