Several years ago, a group of women united together and formed the Friendship Bridge Trust Bank “Catalinas” meaning “women of Santa Catarina. Currently, there are eight women in the group with the goal of creating their own solutions as successful entrepreneurs thereby overcoming poverty.
Lidia is a 27 year old married woman with four children, who range in age from four to twelve years old. Although she only had one year of formal education, Lidia is keenly aware that her children need to have as much education as possible so that they can enjoy a successful future. This is a common desire among the clients of Friendship Bridge. Her oldest child will start the 7th grade next year while the others will continue in elementary school. Lidia is an enterprising woman who decided two years ago to start a bookstore business located in a small room of her own house. She lives right in the center of Santa Catarina Palopo and there is a lot of foot traffic past her business. Lidia is applying for a new loan with Friendship Bridge as she needs more financial capital for her business. She will use the funds to purchase inventory for her bookstore, especially various types and sizes of notebooks, books and other school supplies. Lidia wants to be well-prepared to have the necessary school supplies so that when parents visit her shop at the beginning of the year, her store will be fully stocked.
All of the women of the Friendship Bridge Trust Bank “Catalinas” send an affectionate greeting to KIVA investors during this holiday season. They hope that the New Year is full of blessings and good health for all.
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