Catalinas Ixtahuacan Group
Seven hardworking and motivated ladies are hopeful for a better and more prosperous future and have joined together to form the Friendship Bridge Trust Bank “Catalinas Ixtahuacan.” They are requesting a loan that they will use for their textile and agricultural businesses with the goal of improving their standard of living.
A Friendship Bridge Loan Officer meets with the women at their monthly meetings. Besides conducting business transactions, the Loan Officer presents educational training and the ladies can immediately put the newly acquired information to work in their lives. They are eager to learn about effective business practices, budgeting, and accounting. The women also learn about hygiene, health and medicinal plants. Other relevant subjects include nutrition, self esteem, and women’s rights.
Manuela is an active and enthusiastic member of the Trust Bank. She has a textile business and creates beautiful traditional skirts called “cortes.” Actually, she shares this responsibility with her family and her husband and children work with her. Manuela has requested a loan which she will use to purchase thread and dye. She looks forward to increased sales to her neighbors and clients in nearby villages and will work hard to create the designs that they choose.
The ladies of the Trust Bank extend their gratitude and appreciation to Kiva investors for helping them achieve their dreams. They anticipate a more prosperous future because of the tools that they are acquiring now with the loans and education.
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