The Trust Bank enjoys meeting together once each month. They make payments on their loan. They also receive valuable edcational training on various topics like family planning, economics, savings as well as the rights of children. They are able to implement what they learn into their lives which helps them create different patterns in their own lives as well as in their families.
Carmen is a 50-years-old member of “Uvas” who has benefited from her loans. Several years ago, she and her family began to manufacture and sell various types of shoes. Currently, she needs more capital for the business and so she is requesting a loan with Friendship Bridge. She will use the funds to increase her working capital and purchase materials for shoes. In this way, she will be able to meet the needs of her customers instead of stopping production. In addition, Carmen will be able to sell shoes in two nearby markets each week. She is pleased that her business can continue to generate income in order to maintain her household expenses. She tells us that both she and her husband can provide a higher standard of living to their entire family.
The ten micro-entrepreneurs of the “Uvas” Trust Bank are grateful for the loans that they have received through KIVA and Friendship Bridge. They are looking forward to a brighter future not only for themselves and their families but also for their community as well.
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