Buenas Mujeres De Jucha Group
Carmen is the 50 year-old Treasurer of the Trust Bank and has a large family of six children. She feels quite proud to be a member of the group. Carmen mentions that she especially likes being on the Board of Directors as she is able to develop her leadership skills.
Three years ago, Carmen began to work in the tailoring and garment industry. She learned a lot about the business from her son and daughter-in-law and began to make tee shirts, shirts and pants. Carmen is excelling in her business and will use her new Friendship Bridge loan to meet the requests of future clients. She will purchase an additional sewing machine. Two additional people have been hired! Carmen tells us that she anticipates a lot of work in the next few months and so the loan will come at a good time!
Carmen, along with her fellow Trust Bank members, appreciates the confidence that Kiva investors have placed in their ability to progress forward in their lives with loans and education. The women are grateful and amazed that people around the world hear of their need and share monetary support
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