Julia is a younger member of the group. She is 23 years of age, single and eager to excel. Like most of the women of San Juan La Laguna, Julia learned to weave when she was a child. She currently owns a textile shop along with her mother. Julia is requesting a new loan in order to sustain and grow her business. She plans to purchase yarn and then using natural dyes, transform it into beautiful colors. She will then weave it into beautiful fabrics that will become scarves, shawls and table runners. Julia is very pleased to participate in this business because it allowed her to finish high school and enter college. She is studying business administration. Julia sets a wonderful example for the other women in her Trust Bank.
During the monthly meetings, the women not only make payments on their loans but also receive educational training from a Friendship Bridge Loan Officer. For many of the women, it is the first time that they are learning in an educational setting, as they began working as children and did not have the opportunity to attend school. The ladies learn about business administration, marketing and budgeting as well as women’s health and leadership, self-esteem and empowerment.
Kiva investors are greatly appreciated by Friendship Bridge clients like Julia. Armed with small loans and educational training that Friendship Bridge calls “microcredit plus,” the women can step more confidently and empowered into a more successful future. Their families and their community will realize benefits as well. Thank you, Kiva investors!
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