Tomasa is a 38-year-old widow and is the Secretary of the Trust Bank. The group is in its third loan cycle. She has been a widow for eight years and works diligently to take care of the basic needs of her five children. Tomasa raises animals including chickens and pigs. She is quite happy to receive a new loan which she will use to purchase 20 additional chickens and 2 pigs. She will also buy feed to fatten them. Her dream is to increase her business, creating more income so that she can continue to support her family. As many of the women in the Friendship Bridge program, Tomasa wants her children to complete their education, something that she was unable to do. At the present time, one child attends the 2nd grade, two are in 4th grade, and the last one is in 6th grade. Tomasa only reached the 4th grade.
Tomasa shares that she enjoys being a part of this Trust Bank. She feels empowered because she participates in making decisions and has learned many new things. Each month at the meetings of the “Tikal” Trust Bank, the women receive trainings on subjects like money management, indebtedness, women’s health and hygiene and medicinal plants. Armed with these new tools, Tomasa and her fellow Trust Bank members face a more prosperous and happier future for themselves, their families, and their community in the rural area of Chichicastenango.
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