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Refugio Group
In this Group: Veronica Teresa , Maria Estela , Gladys Leticia , Jacqueline Nidia , Sandra Catarina , Fidelia Petrona , Helen Floridalma , Sara , Isabel
The meeting of the Friendship Bridge Trust Bank “Refugio Group” meaning “Refuge Group” takes place each month in a neighborhood of Quetzaltenango in the Western Highlands of Guatemala. The nine ladies in the group chose this name because they consider the Trust Bank a place to learn, to share, to participate, and to seek support. The ladies are optimistic, enthusiastic, and beautiful in their colorful and traditional outfits that are representative of the area. The women have an average of 2.7 years of education, and their families average four children. The ladies are involved in various economic activities such as the sale of clothing, the weaving of typical regional costumes, and animal husbandry. One of the members has a small store.

Gladys is a 40-year-old married member of the group with four children who range in age from 8 to 19. They are her treasures and the “light of her eyes”. Like some families in the community, her family is involved with weaving of typical skirts called “cortes”. Currently, Gladys has four employees and because of their assistance, she is able to meet the demand for each week. She has applied for a new loan with Friendship Bridge which she will use to buy a variety of good quality yarn. Gladys is very happy to have this working capital because she will have more material to work with and therefore, more income.

The nine women, along with their families, appreciate the opportunity to secure a loan which ultimately benefits everyone in their families since many of the businesses are family businesses. They also look forward to their monthly educational trainings on topics like sales and promotion, savings and indebtedness, medicinal plants, and healthy meals. Armed with their loans and information from their educational trainings, these women look forward to the future where empowered women will eliminate poverty.

Additional Information

About Friendship Bridge

This 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.

About Guatemala

  • $4,155
    Average annual income
  • 68
    View loans »
    Guatemala Loans Fundraising
  • $9,064,775
    Funds lent in using Kiva
  • 8.0
    Guatemala Quetzales (GTQ) = $1 USD

Success!! The loan was 100% repaid

A portion of Refugio Group's $4,725 loan helped a member to buy a variety of good quality yarn to make clothes.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 17, 2013
Listed
Nov 11, 2013
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2014