Petronila is one of the younger members of the Trust Bank. She is 19 years of age and has two children. Because of the scarcity of financial resources, she was unable to continue her education past the third grade. Like the other members of her Trust Bank, she knows that education is a vital key to a successful future and looks forward to watching her children attend school in the future. Petronila raises animals and also owns a small store for daily consumption items. She needs more items on the shelves of her store. She approached Friendship Bridge for a new loan of $615 which she will use to buy more sugar, rice, noodles, pasta, bread, oil, and water. In addition, she will purchase feed for the eleven turkeys that she is raising. She is most grateful to be a member of the “Femenil” Trust Bank for the working capital that is as necessary for her success as a business woman.
The women of the Trust Bank meet once each month with a Loan Officer or “Facilitadora” from Friendship Bridge. They not only make payments on their loans but also receive valuable trainings on subjects like women’s and children’s health and nutrition, family planning, money management and savings, women’s rights and self esteem. The ladies send many blessings to KIVA investors and gratitude for funding their loans.
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