Esperanza Viva (Hope Is Alive) Group
Doña Tiburcia (1st from left) is a 58-year-old widow with a third-grade education, and 11 children, all grown up. Her husband was killed 11 years ago in a robbery. At that time she did not work, but she had to earn money. She started working in a nursery, saving a little money so that she could someday start her own business. After a few years she was able to start selling snacks and then started a small store in front of a public school. Her goal is to increase her inventory of the items that the mothers and children at the school want to buy.
Tiburcia has been invited by the local public school to talk on Mother’s Day to tell her story. On these occasions, she talks about her life to show other women that when you have a dream and you work hard, there is nothing that can stop you. Her children (two of whom live with her and help her) are very proud of her.
Her current profit is about US $245 working 125 hours per month. Her objective during this nine-month Namaste cycle is to improve her profit by 27% to about US $312.
More information about this loan
In addition to a micro-loan, through its Business Development Program, Fundacion Namaste Guatemaya, provides its borrowers with the business support that will help their enterprises grow.
Namaste provides financial literacy, business education, cash flow analysis, and opportunities for entrepreneurs to to share experiences and best practices. The capstone of their model are Business Advisors that provide each borrower with one-on-one mentoring.
Namaste measures it success through the increase in profits of its borrowers. Of the more than 900 Namaste borrowers who have completed the business development program, on average their profits increased by 41%. Namaste clients are averaging USD2.50 per hour vs the Guatemala minimum wage of UDS1.00.
About Fundacion Namaste GuatemayaFundacion Namaste Guatemaya (Fundacion Namaste) is a non-profit organization in Guatemala that focuses on empowering women with microloans and mentoring. Its flagship program is the Namaste Business Development Program (NBDP), which combines personalized mentorship, financial literacy and customized microloans to help women entrepreneurs formalize their business models and increase their profits.
To date, approximately 1,000 women have completed the NBDP program, and over 500 women are actively enrolled. Kiva lenders’ funds enable Fundacion Namaste to reach even more women in Guatemala, particularly in rural and idigenous communities.
Fundacion Namaste joined Kiva through our Experimental Partnership Program, and has therefore received a lighter level of due diligence. Accordingly, loans associated with this partner carry a higher level of risk than typical Kiva loans.
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