Update on Uvas GroupThe Friendship Bridge Trust Bank “Uvas” or “Grapes” is located in a neighborhood in the second largest city in Guatemala called Quetzaltenango. There are 11 women in the Trust Bank who are quite pleased and excited to begin another loan cycle with Friendship Bridge. They have various small businesses that they are sustaining and expanding.
Berta is a 25-year-old married member of the Trust Bank. She has one son who is 16 months old. Along with her husband, Berta is very hard-working as the goal of the couple is to provide a better life for their son and future children. Recently, she began her business which involves the manufacture and sale of a variety of iced fruit popsicles that she sells three days each week from her home and also in a nearby school. Berta is very excited to be requesting her first loan from Friendship Bridge which she will use to purchase a many kinds of fruit and transform it into icy treats. Her goal is to expand her business so that her popsicles will be more in demand.
Friendship Bridge strongly believes that loans must be accompanied by non-formal educational trainings for the over 20,000 women who are clients of the organization. This is called “Microcredit Plus.” A Friendship Bridge Loan Officer meets monthly with the women of each Trust Bank and shares information on useful and relevant topics like nutrition, hygiene and health, women’s rights and self esteem as well as effective business practices and budgeting. Because most of the ladies have had little or no education, they are very excited to learn all that they can. They also realize how essential a good education is for their children.
Speaking on behalf of the 10 other women in the “Uvas” Trust Bank, Berta expresses appreciation to KIVA investors for their kindness and generosity in providing capital for their much-needed loans. Armed with their new tools, the ladies are poised to step into a brighter future, benefitting themselves, their families and their community!
Previous Loan DetailsThe “Uvas” (grapes) Trust Bank is from a community in Quetzaltenango, Guatemala and is composed of ten women. They are starting their fourth loan cycle with Friendship Bridge. Their average age is forty and each has an average of three children. The ladies are engaged in various businesses… More from Uvas Group's previous loan »
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).
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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