Ukux Kem Group
Update on Ukux Kem GroupThe Friendship Bridge Trust Bank, “Ukux Kem” or “Heart of Weaving” is well-organized and strives every day to improve the well-being of their families. Sometimes it is a struggle, but they persevere because they know that a better future lies ahead for themselves and their families. The loans funded by Kiva investors and the educational trainings that they receive from Friendship Bridge are a vital key to their success. They are proud of their accomplishments.
The ten ladies of the Trust Bank recently completed a loan cycle with Friendship Bridge.
These loans were generously funded by Kiva investors. The women appreciate the generosity of Kiva investors. The ladies are truly honored that people from all parts of the world believe that the women of “Ukux Kem” can progress with the proper tools. Because of the success of the previous loan cycle, the group is requesting a new loan from Friendship Bridge funded by Kiva investors.
The Ukux Kem Trust Bank is aptly named, as the ladies weave and sell textiles like tablecloths, napkins and traditional shirts or “huipiles”, as well as the traditional skirts or “cortes”. Juana is a 59-year-old mother of five children and is widowed. She joined Friendship Bridge around five years ago. Juana was greatly relieved when she first found out that she was eligible for a loan, which she is using in her textile manufacturing business.
She will use the funds to produce more textiles such as the beautiful, traditional skirts called “cortes”, tablecloths and napkins. As the high-selling part of the year is approaching in November and December, Juana has requested a new loan, which she will use to purchase quality thread and yarn in bulk. She employs one of her children, and the pair work hard to make enough income to support the family. Juana makes delivery of her products at least twice per month. Because of her efforts, she is pleased to make her monthly loan payments on time and support her family.
Juana, along with the other members of the Trust Bank, are actively involved in the monthly educational training programs offered by Friendship Bridge. It is essential that the loans that the women receive be combined with these trainings that cover topics like business administration and indebtedness, women’s and children’s nutrition and health, as well as self-esteem.
Previous Loan DetailsIn the rural community of Chuanoj, outside of Totonicapán Guatemala, Kiva investors can find the Ukux Kem (heart of weaving) Trust Bank. The Trust Bank is comprised of 11 amazing women who have been part of Friendship Bridge’s Microcredit Plus program for five loan cycles. The Ukux Kem Trust Bank… More from Ukux Kem 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