Los Tzoc Group
Alicia is a 30-year-old mother of four children, whose dream is to work hard and help her family to progress successfully into the future. She works with her husband in their two businesses. Alicia owns a tortilla business and, along with her husband, she buys and resells vegetables. The couple has eight employees and is looking forward to expanding their businesses. Alicia is in need of additional financial capital, in order to buy more corn in bulk and more vegetables to sell.
Alicia and the rest of the women in Los Tzoc Group are very excited and proud to be involved in this trust bank. They look forward to their monthly meetings, where they share experiences and make payments. They also enjoy the educational topics provided by Friendship Bridge and receive valuable information about business management, budgets, expenses, and women’s and children’s rights. Most of the information is new to them, as their average educational level is the third grade.
The trust bank, Los Tzoc Group, wishes to express their gratitude for their previous loans and their anticipated additional loan. The combination of the loan funded by Kiva lenders, and the training and education from Friendship Bridge, helps them to look forward to a more profitable and secure future for themselves, their families and community.
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