Mujeres De Chipuac Group
Tomasa is the 48-year-old Treasurer of the Trust Bank. In spite of the fact that she does not know how to read or write, she has been able to teach herself many things and does her job well. As is the case with the other ladies in the Trust Bank, Tomasa makes “cortes” and is requesting a loan to purchase a variety of thread which she will use to create new designs and increase her clientele. Her dream is to make enough income so that her last daughter, who is 13 years old, can attend school.
Together with the other ladies in the Trust Bank, Tomasa is happy to participate in the monthly meetings with a Friendship Bridge Loan Officer. There is an educational component to these meetings and the women learn about relevant subjects like healthy foods, women’s rights, and the prevention of violence, as well as self-esteem. Other topics include accounting and budgeting, customer service and indebtedness.
Each of the ladies in the “Mujeres de Chipuac” Trust Bank are poised to enjoy a more prosperous and happier future because of the loans and educational trainings. They are most grateful to KIVA investors for their kindness and generosity. 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!