Guadalupe Uno Group
Miriam is a 48-year-old member of the Trust Bank; she joined three years ago. She is married to a tailor and has five daughters. Miriam sells snacks and other food. She is requesting a new loan of $641, which she will use to purchase a stove and a gas cylinder, a meat processor, and a blender. These items are very necessary for the success of her business. She rents a space for her business, and sells four days each week. Miriam’s dream is to own her own space for her growing business. She points out that her previous loans have helped her maintain and increase her business.
The women of the Trust Bank “Guadalupe Uno” are happy to have created such a circle of support, and they enjoy the monthly training given by Friendship Bridge. They learn about business administration, money management, marketing, and women’s health. They are very active and like to participate during these trainings and respect everyone’s opinion. The women of “Guadalupe Uno” would like to take this opportunity to thank the support of KIVA investors. They are most appreciative of the confidence that the investors have in the women’s ability to improve their own lives. It is through these loans that the women will receive much needed working capital for their small businesses.
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