Las Chicualenses Group
Chicua is a small, poor community near the town. Men, women and children face daily struggles to survive and move forward in their lives. The seventeen hard-working women of the Friendship Bridge Trust Bank, “Las Chicualenses” have a vision for a better future, and look forward to their monthly meetings.
They are currently requesting a new loan from Friendship Bridge, which will be their second loan cycle. The women’s average age is 33 years and they have a very low level of education, with only a few having attended elementary school. Most do not write or speak in Spanish. The ladies have large families and are committed to providing for their children. They realize that education is a real key to a more successful future.
The Secretary for this loan cycle is 24 year old Antonia. As is customary for unmarried women in the rural, indigenous communities of Guatemala, Antonia lives with her parents and siblings. She was only able to attend school until she reached the 4th grade. Since childhood, Antonia has been using her talents to embroider and weave. Currently, she owns an embroidery business and makes beautiful sashes and blouses. As her business is growing, Antonio decided to apply for her second loan with Friendship Bridge, which she will use to purchase various high quality thread. Antonia will plan carefully as she wants to take advantage of the special orders that she has received. She anticipates more sales as the holidays approach. As Antonia works with her sister, the loan will become working capital for both of them. This is especially important as her sister is currently going through a divorce and needs to support herself and her own children.
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