Costureras Clarenas Group
Maria is the 31-year-old President of the Trust Bank who is married with four children. She is an enthusiastic and very responsible businesswoman, leader and mother. Each of her children is in school and she is thrilled about this as she realizes that education is the key to a successful future. Fortunately, she was able to attend school but was not able to graduate from high school as she had to work. Maria raises chickens and cattle and hopes for a good return on her investment. She is requesting a loan that she will use to purchase more chickens to fatten up, sell, and thus create additional income. Her goal is to take care of the daily needs of her household and to see that her children finish school.
Maria takes her job as President of the Trust Bank very seriously and tries to guide the ladies in an intelligent and compassionate manner. She urges them to use the information that they receive each month in the non-formal educational trainings given by a Friendship Bridge Loan Officer. Some of the topics covered include women’s rights and self esteem, nutrition and health as well as the use of medicinal plants. Other subjects covered include effective business practices including accounting, budgeting and customer service. It is the combination of the small loans and non-formal educational segments of the monthly meetings that Friendship Bridge calls “Microcredit Plus”.
The ladies of the Trust Bank are quite grateful to KIVA investors for funding their loans. They intend to use the funds wisely and pay them back on time. 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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Success!! The loan was 100% repaid