Sendero De Luz Group
The requested loans will benefit small micro entrepreneurs like Irma who is the President of the “Sendero de Luz” Trust Bank. She is 35 years of age and has five children who range in age from four to twelve. Along with her husband, Irma is a tailor and the couple makes children’s clothing ranging in size from 2-8. She will use her loan to purchase good quality fabric from wholesalers and transform it into pants, sweatpants, shirts and other apparel. Irma sells her products by the dozen in two nearby markets. She is pleased that she is able to provide good support for her family.
In addition to receiving loans, Irma and the rest of the ladies receive monthly training from a Friendship Bridge Loan Officer on topics like business administration, budgeting and marketing, accounting and customer service. Other subjects presented include health, nutrition and medicinal plants, women’s and children’s rights, and self-esteem. As many of the women have had little or no education, this training is quite valuable and relevant.
On behalf of her fellow Trust Bank members, Irma thanks Kiva investors for their confidence and generosity in providing these much-needed loans. Empowered by the training from Friendship Bridge and the loans from Kiva investors, the 10 women of the “Sendero de Luz” Trust Bank can step more confidently into a brighter tomorrow. They, along with their families and community, will benefit!
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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This loan has been fully funded!