The women of the Trust Bank are eager to begin their new loan cycle. The President of “Asuncion” is Feliciana, who is a 55-year-old widow. She has three children, and is committed to help them in every way possible. Feliciana employs three women and works in textile production. She specializes in “ikat”, which is the dyeing of patterns by means of binding threads or cotton yarn called “labores” that are then colored with brilliant dyes. This technique is called “jaspeado” in Guatemala, and each village has its own unique, beautiful designs.
Feliciana is requesting a new loan which she will use to purchase a large quantity of thread and yarn as well as supplies to dye it with. This hard-working woman travels each week to deliver her orders, and usually delivers 50-60 bundles of thread (with 25 units in each bundle). She manages her money wisely and there is a good cash flow.
A Friendship Bridge Loan Officer visits the Trust Bank on a monthly basis. Besides making payments on their loans, the Loan Officer gives educational training on useful and relevant subjects like nutrition and health, effective business practices and indebtedness, as well as women’s rights and self-esteem. Other topics include hygiene and nutrition.
Kiva investors are greatly valued and appreciated by the women of the Trust Bank. The loans that the 14 ladies are requesting will be used in their businesses to increase their income and grow their businesses. In this way, they will be able to improve their quality of life and that of their families. It will also be useful for them to take advantage of future business opportunities by having funds available.
Feliciana, along with her partners, are most grateful to those in KIVA who are helping them make their dreams come true. They are committed to repaying their loans promptly and completely. They face a brighter tomorrow, armed with their small loans and newly acquired knowledge. 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