Doña Rosario is a 37-year-old member of the Trust Bank who is a true leader and role model for the group. She has been elected President. She is very charismatic and promotes harmony within the Trust Bank. This hard-working woman, who is married with seven children, is involved with her family farm growing carrots, onions, and cabbage. She is requesting a new loan which she will invest in the onion crop that she will plant in the winter months. Right now, she has to prepare the soil and buy fertilizer, insecticides, and seeds. She wants to have everything ready so that she can have an excellent and abundant harvest.
The eleven women are greatly helped by the non-formal educational themes that are covered by a Friendship Bridge Loan Officer at the monthly meetings on topics like money management and business administration, budgeting, and accounting, as well as health and nutrition. Many of them, like Doña Rosario, have had little or no formal education. But they realize that education is the key to a successful future. Four of Doña Rosario’s children attend elementary school and she is quite pleased about this.
The Trust Bank “Chuisequec” send their appreciation and gratitude to Kiva investors for believing in their dreams. Armed with their newly acquired knowledge and loans, the ladies are able to improve the quality of their lives and empower themselves with the final goal of eliminating poverty. This will not only benefit themselves but also 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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This loan has been fully funded!