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Las Cruces Group
In this Group: Marycruz Juana , Carmen Isabel , Maria Vicenta , Celestina Francisca , Manuela Socorro , Felipa Isabel , Regina Emilia , Floridalma Regina , Juliana Matea , Maria Socorro , Adela Oneida Roxana , Anastasia Margarita
The Las Cruces Trust Bank resides in Chuanoj, a community in Totonicapan which is located in southwest Guatemala. Currently the Trust Bank is composed of 12 women, who on average are 32 years old and have about three years of formal education. These women are very responsible, hard-working people who want to improve their lives and the lives of their children. Due to economic constraints, these women were unable to attend school, and had to work from a young age. They struggle daily to raise their young children and provide them with a better future.

Carmen is a 29-year old member of Las Cruces Trust Bank who is married and has five children. Like many families in Chuanoj, Carmen and her husband are weavers. They use foot looms in order to make cortes (or traditional Guatemalan skirts), which they sell in markets nearby.

Business is doing well and demands are high for their cortes so Carmen and her husband recently decided to hire two full-time employees. She also needs more capital to buy thread in bulk, so she is requesting a loan from Friendship Brige. This way she can keep the price low, increase production and maximize their revenues. She is currently able to fill and deliver orders within an eight-day period and is working hard to shorten the delivery time.
Beyond receiving the loans, the Las Cruces Trust Bank has also created a circle of trust between its members. The women gather once a month and receive training giving by their Friendship Bridge loan officer. Through these facilitated activities, the women learn about and discuss business issues including budget management, identifying the different ways of do business (personal sales, telephone sales, wholesale sales, retail sales), and costs. The educational sessions also cover personal issues like health, hygiene, women's rights, and self-esteem. "Learning about these issues is a good benefit to our businesses," explains Carmen. "And it helps us with personal enrichment."

The Las Cruces Trust Bank acknowledges the importance of Kiva investors supporting them. They understand that in a developing country, such as Guatemala, they can create a decent working environment with your help.

Additional Information

About Friendship Bridge

This 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.

About Guatemala

  • $4,155
    Average annual income
  • 42
    View loans »
    Guatemala Loans Fundraising
  • $8,598,975
    Funds lent in using Kiva
  • 7.8
    Guatemala Quetzales (GTQ) = $1 USD

Success!! The loan was 100% repaid

A portion of Las Cruces Group's $5,250 loan helped a member to buy thread in bulk.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 18, 2013
Listed
Aug 4, 2013
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2014