Las Marias De San Jose Chiriju Group
Update on Las Marias De San Jose Chiriju GroupRosa is a 51-year-old lady who is married and has 5 children (oldest 29 and youngest 13). Four of them are currently in school. Rosa and her family live in rural Llanos del Pinal, Quetzaltenango in the western highlands of Guatemala, where many people are engaged in activities like agriculture and animal husbandry. Many women are also seamstresses. Rosa belongs to the community bank called CIELO (Heaven), along with 13 other women, who seek to develop themselves and their families. Besides agriculture, these ladies are also dedicated to sewing, growing and selling flowers, buying and selling all kinds of vegetables, breeding animals, etc.
Rosa and her family have been engaged in the farming industry for several years. She decided to approach Friendship Bridge for a loan to increase the amount of land available for cultivation. Currently, she is starting her 6th loan cycle; Rosa is so excited to request a loan of 512 USD, which she’ll use to buy seeds, fertilizer, and manure for a crop of 10 strings. Among the products they grow there are: onions, lettuce, carrots, and broccoli. Rosa and her family sell the vegetables to wholesalers in a large market located about 1 hour from their land.
Rosa's great desire is that her children could stay in school, so their future can be better than hers. She says that it's hard not knowing how to write in Spanish, even though she understands and speaks some Spanish. Currently two of her children are in high school on weekends so they can support the family during the week in the field. Also her two youngest children are in elementary school daily.
Rosa and the other women of the trust bank CIELO are grateful for the support and trust of KIVA investors. With the working capital they give, these ladies can make their small businesses grow and/or maintain the same level. Their businesses are sources of income for them and their families.
Previous Loan DetailsWhen Las Marias de San Jose Chiriju formed a Trust Bank and realized three of their members were named Maria, it seemed only fitting to name the group Las Marias de San Jose Chirijuyu (The Marias of San Jose). Recently, we spoke to one of the Marias to gain insight into their Trust Bank.… More from Las Marias De San Jose Chiriju Group's previous loan »
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).
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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