Las Golondrinas Group
The President of “Las Golondrinas” is 25-year-old Ana who has a dynamic personality and a tremendous drive to move forward. She is married with an 8-month-old baby boy. Ana makes handmade traditional textiles, especially the beautiful sashes called “fajas” used by the indigenous women of Guatemala to keep their tubular skirts in place. She also raises animals including chickens, pigs and rabbits. Ana travels by public transport to three different markets outside her community each week to sell her products. She is happy to begin her 3rd loan cycle with Friendship Bridge as it allows her to increase her inventory and increase her income. She will buy raw materials such as yarn and thread as well as some animals and feed for them.
Ana relates that she really enjoys belonging to the Trust Bank and being with many of the women of her community on a monthly basis. During their meetings, which last for about one hour, the women receive training about various topics such as health, nutrition, self-esteem and women’s rights. Ana states that the topic that impacts her the most is business management. In her own words, “I like to go the meetings because I have fun with my colleagues and we share and learn a lot together.”
The six women of the “Las Golondrinas” Trust Bank thank KIVA investors for their generosity and confidence in funding their loan. With these funds, the ladies can sustain and grow their businesses, generate an income and support their families. They are especially pleased that they can provide for their children’s educational needs. Armed with their new tools, everyone looks forward to a brighter future for themselves, their families and their town, Santa Lucia La Reforma.
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