The Trust Bank is led by a Board of Directors who have elected Margarita as their President. She tells us that she has been associated with Friendship Bridge for the past four years.
Margarita is 38 years old and married. She is quite proud that her previous loans have enabled her to earn enough to support her entire family. She is especially pleased that her children are able to attend school. Her oldest daughter graduated from high school two years ago where she studied medicine. As she has not been able to secure a job in the medical field, she has been helping Margarita with her textile business. Margarita dreams of sending her daughter to college in the coming year.
Margarita is requesting a new loan to buy supplies, including thread, for her weaving business. She will work with her daughter to meet the demands of her customers and perhaps expand the business. There is enough money to pay for the household expenses. Both mother and daughter want to save some funds and open a pharmacy in her home or nearby.
Margarita and her fellow Trust Bank members enjoy the informative and useful training programs given by Friendship Bridge each month. They learn about timely and useful topics that help them in their daily lives, including effective business practices, health and family issues and self-esteem. The women cherish their time together, hearing of the progress that each is making in her life. They are happy and thankful to receive a loan and express their gratitude to Kiva investors 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