Xejuyu Concepcion Group
Rosario is the 33 year old mother of 5 children. Sadly, she became a widow one year ago when her husband suffered an accident and died. So, Rosario became both mother and father to her children and needed to spend more time and energy for her agricultural business. Rosario is in her third loan cycle with Friendship Bridge. She states, “I was relieved when I knew I could get micro-loans through Friendship Bridge because it is not easy for other institutions to give loans to widows, and even less if that woman is a farmer." Rosario is currently applying for a new loan, which she will use to buy seeds to grow potatoes, onion, carrot, as well as fertilizers.
Both Rosario and the rest of the ladies in the Trust Bank want to share that being a part of the “Xejuyu Concepcion” as united them even more. Previously, they were just neighbors but now they are friends, companions, confidants and much more. They support each other and practice solidarity. The women want to express their thanks to KIVA investors because without this vital financial support, they would be unable to grow and empower themselves. The benefits trickle down to their families and their community as well. It is a “win-win” situation!
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