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San Miguel Xenacoj Group
In this Group: Juliana , Dominga , Dominga , Gregoria , Marta , Maria Leticia , Juana
The Trust Bank, San Miguel Xenacoj from Santo Domingo Xenacoj, is applying for their second loan with Friendship Bridge. The Trust Bank was established last year and consists of seven members whose average age is 44 years. Their families consist of an average of four children, and their average education lasted 2.7 years. Most of the ladies work on backstrap looms creating beautiful textiles, while a few are the owners of small storefronts. Their businesses really make a positive impact on the economies of their families.

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

Additional Information

About Friendship Bridge

This 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.

About Guatemala

  • $4,155
    Average annual income
  • 58
    View loans »
    Guatemala Loans Fundraising
  • $8,320,750
    Funds lent in using Kiva
  • 7.8
    Guatemala Quetzales (GTQ) = $1 USD

Success!! The loan was 100% repaid

A portion of San Miguel Xenacoj Group's $1,750 loan helped a member to buy inventory for her storefront grocery.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 10, 2013
Listed
Apr 19, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2014