Maria, a 48-year-old widowed mother of three, did not attend school due to the precarious situation of her family. She is proud to be supporting her children, one of whom will finish middle high this year. Maria sells fruit both at the wholesale and retail level in two different markets: the southern coast of Guatemala and the western area where she lives. Maria transports the products from her region to sell on the southern coast and then returns to sell in her area. She also creates a small amount of the beautiful traditional textiles of Totonicopan.
It has taken a few years for Maria to create this business and she is noticing that she is acquiring additional customers. Because of this expanded demand, Maria has decided to secure a loan from Friendship Bridge so she can purchase more seasonal produce such as apples, bananas, cantaloupe, papaya, peaches and pineapple.
Maria enjoys the monthly training which is a valuable component of the Friendship Bridge program. The ladies discuss topics like women's health, children's rights, business administration and financial administration (over-indebtedness, savings) and self-esteem.
The Trust Bank, Chuimekena, is very appreciative of Kiva investors, and the members send their greetings to all who are supporting them with these micro-loans for their business endeavors. With more education, support and empowerment, they face a brighter future for themselves, their families and their communities!
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