Orquideas Visitecas Group
Magdalena, along with the seven other ladies of “Orqideas Visitecas”, is looking forward with great anticipation to their monthly meetings with a Loan Officer from Friendship Bridge. They not only make repayments on their loans but also receive training on topics like women’s identity and leadership, Marketing and business administration, as well as health and self-esteem. The women are hungry to learn about these subjects and more, so that they can more fully educate and develop themselves.
Magdalena and The “Orquideas Visitecas” Trust Bank wishes to express their gratitude to KIVA investors for their confidence and their belief that the women can climb out of poverty with a loan and education. Armed with these tools, the women can step into a more prosperous future, benefiting themselves, their families, and their community of Santa Maria Visitacion.
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