Tomasa is the 28-year-old President of the Trust Bank. She is married and has three children. Two of them are in school. Tomasa is honored to be President of the Trust Bank in this new loan cycle. She is pleased to practice her leadership skills. Tomasa has a textile business and creates shawls as well as the colorful and ornate traditional blouses called “huipiles” that the women wear from Chichicastenango. They are among the most beautiful in Guatemala. Tomasa is requesting a new loan from Friendship Bridge that she will use to purchase a variety of good quality thread as she wants to maintain the high quality of her business and increase her clientele. She delivers her inventory weekly and sells on a retail basis two days in the local market.
The women understand the value of education and know that their children need to be in school in order to enjoy a better and more prosperous future. Participating in the Microcredit Plus Program of Friendship Bridge (small loans + non-formal education), the ladies learn about many useful and relevant subjects from a Loan Officer at their monthly meetings. Some of the topics discussed include violence against women and self-esteem, women’s and children’s rights as well as nutrition and health. In addition, subjects like effective business practices, customer service, budgeting and accounting are essential to insure the success of their small businesses.
Tomasa feels honored that people from other parts of the world want to invest not only in her but also in the 10 other ladies in the Trust Bank. The women have formed a strong alliance and together, they are committed to making a real difference in the lives of their families and their community.
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!