Mujeres De Chuanoj Group
Two of the members of the Trust Bank are new and one of them is 41-year-old Eufemia. She is widowed with four children. Before her husband died four years ago, Eufemia depended on him to provide financial support for the family. After his death, she needed to find a way to support herself and her children, two of whom are in school. She began to raise chickens and soon realized that her business could prosper with more investment. Eufemia learned of Friendship Bridge, attended meetings and requested her first loan! Currently, she has one dozen chickens that she sells in the local market. With her loan, Eufemia intends to purchase three dozen additional chickens as well as feed to fatten them. This industrious woman also is involved with textile design which is an additional way for her to generate income.
Eufemia is very confident that her business will prosper. She tells us that she feels blessed and happy with the opportunity to be a part of “Mujeres de Chuanoj”. In her own words, "It is not easy being a mother and father at the same time. As mothers, our children are our first priorities and we need to do everything possible to support and provide for them. This loan will greatly benefit my business and my family.”
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