Bendicion Barrio De La Paz Group
Maria is a 42-year-old member of the Friendship Bridge Trust Bank. She is a businesswoman who wants to improve her life and leave poverty behind. She has a mill where she makes “nixtamal” which is usually made from dried corn that is soaked in a mixture of water and a mineral called calcium hydroxide. The mineral adds important nutrients to the corn, making it easier to digest. In addition, Maria has a small store where she sells items for daily consumption. She wants to expand her inventory in the store and so she is applying for a loan with Friendship Bridge which she will use to buy items like sugar, rice, noodles, beans, oil, and a variety of other things such as snackfoods.
Maria is happy to be a member of Friendship Bridge because, besides having the opportunity to secure a loan, she expands her knowledge with the educational trainings offered at the monthly meetings by a Friendship Bridge Loan Officer. In a recent meeting, Maria, along with the other ladies in her group, learned about the use of medicinal plants. The group also gains valuable and useful information about effective business practices and indebtedness so that they can be smart and successful businesswomen.
The ladies have recently learned about Kiva and are aware of the kind and generous investors who read about them and their dreams. The small loans combined with the educational trainings are so beneficial to these women. Maria and the nine Trust Bank members of “Bendición Barrio de la Paz" face a brighter and more empowered future which will benefit not only them but their families and their community as well!
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