Florinda is a 47-year-old member of the Vida Trust Bank group. She is married with five children. Along with her husband, Florinda owns a shoe workshop and has seven employees. Four of the employees are family members and two are employees who live nearby. With the year-end holidays quickly approaching, Florinda anticipates increased business. She is applying for a new loan with Friendship Bridge which she will use to buy material to make shoes. Florinda, along with her husband are pleased to access this vital financial capital so that they can purchase additional supplies. As with almost all of the clients of Friendship Bridge, the greatest hope that Florinda has is to see her children continue with their education and hopefully, graduate from college. She realizes they will enjoy more opportunities with increased education.
All of the women in the Vida Trust Bank group appreciate the confidence of KIVA investors. They say that the loans not only help them but also their families. The women are most pleased to be able to enroll their children in school in the coming year. They also look forward to saving a little as well. Finally, the women of the Vida Trust Bank group want to extend their very best wishes for good health and prosperity to KIVA investors throughout the world.
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