San Bartolo Chacaya 2 Group
The women of this group are mostly working in buying and selling foods. They carry their foods in baskets on their heads to the markets of Sololá and Panajachel. Four of the women sew clothes and one of them is working in embroidery. There are two women who have chickens to sell at the markets, one is buying and selling beef, and there are the others who sell all kinds of fruits and vegetables such as carrots, corn, beans, and potatoes. Marta, the president of the group, will invest her share of the loan to buy avocado trees. When the trees are grown, she can harvest and sell the avocados. Santos tells me she also sells avocados and beans at the markets of Sololá and Panajachel. Because of the different market days, she is able to go to both of the markets.
Francisca told me that none of the women went to school themselves, but they can say proudly that all of their kids are. Also, with the revenue they are getting back from their investments the ladies can fix up their houses; that is also great! The women of the group argue that the best thing about receiving a loan and investing it in their now profitable businesses is that they are creating opportunities they never had themselves for the ones they love most: their kids!
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