Olga is a 38-year-old married mother of four children and works hard to meet their needs. At a young age she learned about tailoring and has perfected her skills throughout the years. She mainly sews blouses. This is the second loan cycle for this industrious woman. Olga plans to use the funds to purchase materials for her business including all kinds of thread, yarn and fabric. She wants to be able to complete all her current orders and increase her business. In order to meet the demand of her customers, Olga works along with four of her family members in the business. Additionally, she employs three other ladies from the community. This hard-working group is able to produce 120 blouses each week! The benefit of the loans has had a huge impact on Olga and her family as her children is able to attend school. She wants to see them graduate from high school and attend college. Her husband shares this dream as well. The couple wants to make improvements on their home as well.
All of the women of the Trust Bank enjoy the educational trainings given at their monthly meetings by a Friendship Bridge Loan Officer. They look forward to learning new information in this new loan cycle. Some of the topics covered include nutrition, health and personal hygiene, effective business practices (accounting, budgeting, money management, sales) as well as self-esteem. Olga especially enjoyed the training about women’s identity and leadership.
The entire “Macadamia” Trust Bank extends greetings and appreciation to KIVA investors. Armed with the loans and education, they are able to create a better and more prosperous future for themselves, their families and their community. 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