La Esperanza Group
Elena, a married 28-year-old woman with two children, is the current treasurer. She owns a small convenience store which enables her to generate enough income to support her small family. Education is a priority for Elena and she is pleased that her two children are attending the 4th and 6th grades. This energetic lady is requesting a loan in order to increase her inventory and intends to purchase additional quantities of items for daily consumption including rice, beans, flour, oatmeal, noodles, coffee and drinks. When asked why she likes being a part of Friendship Bridge, Elena responded that she likes the non-formal educational trainings that a Loan Officer gives each month at the meetings. Relevant topics discussed include women’s leadership, rights and identity, discrimination, self-esteem as well as nutrition, health and medicinal plants.
The women of the “La Esperanza” Trust Bank appreciate the kindness and generosity of KIVA investors who provide capital for their loans. They face brighter and more successful tomorrows with their loans and education. We look forward to providing a follow-up report on their progress!
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