The Friendship Bridge Trust Bank “Bendecido” meaning “Blessed” is located outside of Chichicastenango, Guatemala and is composed of nine women who are ready to begin a new loan cycle. The ladies are mostly involved in the production of beautiful, traditional textiles which are proudly worn by indigenous women throughout Guatemala.
The current President of the Trust Bank is 34 year old Ana who has four children who range in age from one to sixteen years of age. Ana will use he loan to purchase a variety of materials to create beautifully fabricated napkins and textile with the goal of increasing her customer base.
Ana, along with her husband, want to keep their children in school because they realize that education is a key to a more successful future. Neither Ana or her husband had any kind of formal education.
Through the Friendship Bridge Micro-credit Plus program, Ana and her fellow Trust Bank members receive non-formal educational trainings in their monthly meetings with a Loan Officer from the organization. Relevant and useful topics covered include business management and money management, women’s identity and leadership, health and nutrition and self-esteem. The ladies share that they are very eager to empower themselves through these most useful trainings which boost their self-confidence!
The entire group is keenly aware of their responsibilities and commitment to pay back the funds that they receive from KIVA investors. They express their deepest gratitude to each investor for believing in them and for providing an opportunity to create a more successful and prosperous future for themselves, their families and their community outside of Chichicastenango!
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