Las Tres Rosas Group
As is the case with all Friendship Bridge Trust Banks, the group has a Board of Directors. Silvia is the President of the group. She is 46 years-old and has eight children. Three years ago, Sylvia started a small business which is a convenience store. It was located in the small room of her home. Soon, she realized that she had to increase her store inventory and it was at that point that she requested a small loan from Friendship Bridge. She happily informed us that the business is doing quite well!
Silvia has requested a new loan (which would be her third loan cycle) of $410 in order to purchase a refrigerator. Her clients have requested cold products such as dairy products (yogurt, cheese, cream) and she plans on making ice cream! She will also sell meat. Sylvia has had no difficulty in making her payments on previous loans. She has a well-thought out business plan and has learned a great deal about business administration as it is one of the educational themes covered in the monthly meetings of the Friendship Bridge Trust Bank. A few of the other themes include self-esteem, health, diet and women’s issues.
Sylvia and her fellow Trust Bank members appreciate having access to small loans and education. They gain confidence in themselves, realize that they have a voice, and weave new relationships. They express their gratitude to Kiva investors for believing in their ability to move forward with confidence and education.
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