Arca De Noe Group
Roselia is a 49-year-old new member of the Trust Bank. She is divorced and lives alone with her eight children. Four of the children are still in school. Rosalia owns a small shop where she sells items for daily consumption. She started her business with only 500 GTQ or $65 U.S. The business has increased and covers the expenses for the family to sustain itself and for the children’s education.
Roselia is requesting a loan from Friendship Bridge to stock her store. She will buy items like rice, beans, oil, sugar, pasta, salt, juices and much more to meet the demand of her customers. As the business is successful, it can grow more with financial capital. Rosalia’s dream for the future is to move her store to a more central location so she can increase her income with more customers.
The women of the Trust Bank, “Arca de Noe”, appreciate the support of the group.They share their joys and sorrows together. They know that micro-credit is a huge support because it helps them and their families. They also enjoy the monthly trainings that Friendship Bridge provides with topics like women's health, women's rights, empowerment, and business management. Roselia states, “I am eager to learn more, because I only had one year of education as my parents believed that learning to write my name was enough school for me.” Roselia and her fellow Trust Bank members are facing a brighter future because of their association with KIVA and Friendship Bridge.
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