In the first loan cycle, we reported about a young 25-year-old woman named Olivia. Because of her loan and her diligent efforts, she was able to increase her business, keep her two boys in school and enroll herself in the 5th grade which she attends over the weekends. Olivia is eagerly awaiting another micro loan!
Brenda is an 18-year-old single mother of a beautiful daughter who is 14 months old. She was only able to attend school until the 7th grade as she had to take care of her daughter and needed to work to support herself and her daughter. In thinking of the future of her baby girl, she thought carefully about what she wanted to pursue and decided to begin to sell fruit. She works seven days per week and happily, the business is growing and doing well. Brenda wants to inject more capital into her business and for that reason; she is applying for her first loan from Friendship Bridge. She looks forward to purchasing more fruit and increasing her inventory.
The Trust Bank “Shalom” appreciates the confidence and support of KIVA investors not only for this second loan but also for the previous one. Brenda sums it up when she says, "We are aware of the commitment we have made and will carry out our responsibilities positively and successfully.”
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