Mujeres De Valor Quiche Group
Celestina is a young 26-year-old single woman who is a member of the Trust Bank. She learned to weave and embroider when she was a child. Approximately one year ago, she decided to open her own small store where she sells aprons, called “delantales,” that she and one of her sisters make. The aprons are quite popular in her town and can be very elaborate, filled with beautiful embroidery and trim. Celestina also sells baby clothing, gifts, toys and many other things. She feels committed to supporting her family and providing income. She has eight siblings. This hardworking, young woman is requesting a new loan to purchase colorful fabrics to make additional aprons. She also wants to stock additional baby clothing. Finally, Celestina is thinking of selling the traditional skirts used by the indigenous women in Guatemala called “cortes.” They come in many colors and sizes.
Celestina is most grateful for the financial support provided by KIVA lenders as this not only gives her working capital but also other opportunities as well. Friendship Bridge offers monthly trainings for Celestina and her friends in the Trust Bank with their Microcredit Plus Program, a most useful combination of financial capital and education. In this way, Celestina and her fellow Trust Bank members face a brighter future for themselves, their families and their community. It is truly 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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This loan has been fully funded!