The members of the Angeles trust bank live in the lovely village of Santa Clara, about 1½ hour away from Sololá. The group was formed 7 years ago, and they requested 6 loans already.
The loans gave them the opportunity T. start a small business and be more independent and self sufficient. It is interesting T. see how they have found a way T. expand their businesses by travelling outside of their own village T. other markets T. sell their products. By travelling T. different markets in surrounding villages and towns they have expanded the number of clientele. They travel T. Sololá, Nahualá, San Pedro, San Pablo and some of the women travel even as far as Quetzaltenango which is three hours away.
Most of the women are working very hard and own two businesses. The group leader Simona S. says: many of us have a plot of land where they grow fruits and vegetables and raise some animals too. So do I. We sell our fruits in the markets ourselves. During the evenings we work on the beautiful regional embroideries. And some of us have a food store where they sell the bread they bake themselves. One of the women even has a little business making canastas: the baskets that all of the women use T. bring their products T. the market
Working with the trust bank has given them the opportunity T. improve their living standards. This is because now they can have access T. clean water and electricity. The women share a lot of their ideas in how T. run their business at the weekly meetings. This way they help each other.
During their childhood many of these women could not attend school, and illness and hygiene were crucial problems. However, nowadays their kids have better opportunities and are doing well in school. If we support these women and their respective families together we are helping them, their communities and Guatemala T. develop.
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